It's obviously specific to that particular market but a lot of the descriptions of asset quality can be applied to similar markets.

The real estate agent said there is a "premium" on some of them because it's close to downtown or a college. description: 4plex, Studio Units (fully renovated)Price: $475kRents: $795(seem to be ok for the area)x 4 units=$3180.0050% rule= $1590Down payment: 30%(seems to be the norm for down payments)Loan: 332,500 @ 6% over 30 years = $1993.51---------------------------------------------------------------------Math shows I would be at a Negative C/F of -$403.51So Obviously the offering price is wrong, but what would be a good price for the property?

I met a wonderful potential tenant who filled out the application with good credit and passed the cozy background check.However, her monthly income she receives is from social security and her assets are a small IRA and low assets in her bank account (especially after paying 1st, last and deposit).I know that the suggested rental ratio is 3x gross income, where she is receiving about 2x income, but I am wondering if anyone else has faced this problem trying to qualify to a retired person on social security.Thoughts?

I haven't met many people that are passionate/successful with BOTH classes of investments, but perhaps I will meet some investors here who match that description after all. 

Communication Is critical.The entire process begins with a detailed description of the investment so my lender can review the project in detail.  

Unfortunately I only have the legal description of the property and no knowledge of the area.

Your description is NOT a cleanup, it is a guy to the studs and rebuild.

Ppersonally, 120K way too much, bank foreclosed amount was $145K  Listing realtor description states TLC on the property; that's laughable. 

It's pretty cool to chat with someone local.I read your description and found out you mainly buy and sell raw land.

Nine times out of ten, that car is a Toyota or a Honda, the last time it's a large American minivan.It will happen to you again and again in this business that you will meet people who loudly claim they would LOVE to get into real estate, IF THEY ONLY HAD THE MONEY, and then get into a late-model, low-mileage car while you get into your 10-year-old Toyota or Honda beater.When it happens to you, you will be startled at how on point my description is.