So if the value of that property raises 100k in 12 years, then me renting it out for $1500 is going to be a huge hit on my because my purchase price was 100k higher than the owners.So my question more or less was how to consider that when acquiring properties that may have existing tenants locked in at a rate or factoring that in with what the MLS has the unit rent price listed for to account for the price at which I will purchase it for. 

Hits me up if you have a deal! 

The repairs consisted of some dry rot on the chimney sidings and to have the electrical panel looked at by a license electrician to determine whether it's safe since the inspection report found "charred wires".  

We hit the market perfect and were able to liquidate before cap rates started to rise a bit.

@Angela Palchowski, another good example of something agents should be able to spot that is also something that would come up on inspections:A 60 amp electrical service and a 100 or 200 amp panel setup. 

We are on the same page.I'm limited to working with institutional investors only, as we are hitting that $10 billion threshold where I'm subject to CFPB rules and regulations. 

reread what @Mindy Jensen and @Shane Snyder said, they hit the nail on the head@Frankie Woods I am quite certain that even having one card over 30% can hurt.

Purchase price $193,000ARV $214,000Rental income $1850 (yeah I know, we didn't hit 1%.

The upstairs has been converted into a rental with a separate entrance and electric meter.

I suspect that it's a MF since you are including water and electricity in your projections.