He would prefer the chunk of change but also doesn't hate the idea of the cashflow. plus we are in a developing community and I don't want to play the appreciation game but the cost of the homes should definitely go up over timeMy only concern is taking on so much debt.

I'm looking forward to seeing how it plays out. 

There are some current listing that are interesting in those areas... certainly not huge instant equity plays, but around the 1% rule.  

Utilizing the 203k seems like a decent option to get the rehab work done, but make sure you understand the rules, as you’ll have to be an owner occupant, which will play a significant role on your cashflow.Lastly, I didn’t see a budget for vacancy, repairs, and property management (even if you decide to self-manage).

Prior to the buyer's agent taking the time to educate that listing agent (I'll give you one guess as to why), I wonder how many of her listings had buyers that were turned away who had offered a fair price/terms, that the seller liked, but just wanted one little thing changed like a $450 home warranty, and the buyer ran off when they saw the multiple offer counter-offer form and didn't want to play that game...

Miami's rent numbers make very little sense when compared to the purchase price of the properties.If you're interested in chasing appreciation, then Miami is probably the better play, just not necessarily at this moment.  

We get together, play Cashflow, eat, drink, and network.

They treat us as if we're all millionaires instead of a level playing field.)

So here are the cards in my hands before playing...- I just have been working my current employer for the past 3 going on 4 yrs with a 401k less than $5k- My credit score in two categories arrange between 610-650 with the third one being under 600. - I have 30k in school debt, which is the only thing on my credit report.- My DTI is 60.4 at is highest- After talking with a mortgage broker I am looking at the approval of about 100k-120kNow my goal is to purchase a multifamily property that would do at least two things: [1] Pay for itself with me living in one of the units [2] cover all expenses of home and personal.What would be possibly the stronger avenues to explore when getting financed regardless where I by my first multifamily property?

I've since spoken with him and he seems to be on board with playing bank for a couple more properties as he has at least two fully paid off.