Not all price ranges respond the same.

Just be conservative the depreciation difference won't be huge if the house is in the price range I'm assuming.

Looking to finance some deals and I'm looking for small but good and reputable lenders who would possibly work with less than 25% down - looking for somewhere in the range of 5% - 20% range and lends in Chicago.

I've seen some advise you'll get more lenders interested if you offer a minimum three months on their return (houses in our price range move fast here).

I can guess what town you have your rental in with college tenants being a high possibility.This very well could be an option; however, the price for the house should not be priced completely out of market range.

FYI my current situation is:ME - FICO 665 middle score / $45k/yr income / $200/mo DEBTWIFE - FICO 650 score / $0 income / -$625/mo DEBTBROTHER - NO FICO - currently building / $30K income / $0 DEBTavailable max Down Payment $7,000PRO's Willing to purchase duplex / tri / fourplex in : riverside / rialto / pomona / ontario / san bernadino (no orange/red Crime map)price range : $180k - $450KREQUESTS: need atleast one unit to be 3 br *looking for value add* as well, After hearing the hundreds of first step methods, im finding it a bit hard to narrow down my search criteria. 2nd question is: After stating our current situation, what other strategies, loan programs or methods to begin our first Multi-Family buy and hold purchase would our current financial situation warrant reaping the most profit and least risk among this interest rising CA desert property market?

I'm just trying to get a mid time range game plan together.

Obviously it would be a property that wasn't as expensive ranging from 100-200 thousand but as the years go by i was thinking off taking cash flow from renters and additional income from my full time job and reinvesting it into the house until its fully paid off then selling the house and gaining the profit and repeating the process with a more expensive house from the profit I made off the first investment property.

good thread, I think it's wise to take in what the elder statesmen said here, since we're touching on so many time based and far ranging topics.  

The local "mid-range" homes in the cities with top rated schools generally sell over asking price.If your calculations are good and account for all issues, asking price isn't all that relevant.