Also note that you can't use list prices, you need to look at actual sold prices - usually within the last six months, within as narrow a radius as possible to the property you're trying to value, on very similar properties - in other words, Comparable Sales, or "Comps".A realtor should be able to run this search for you in about five minutes when they're logged into the MLS, and they can exclude REOs and Short Sales (or include them) - depending on how you want the comps to be run.I recommend getting your hands on some old appraisals from a professional appraiser (and/or broker price opinions), so you can see the process they use to determine market value of a particular property.I also recommend making friends with a realtor who will "run comps" for you occasionally.

It (the new rules) are to allow for longer grace periods so borrowers (remember not everyone is a professional REI) a greater chance to understand and be able to make informed decisions on things like charges involved. 

Present the bank or lender with a spreadsheet analyses that looks professional, and they will take you seriously.  

Airy, Center City, Parts of South Philly, Fishtown and more recently Kensington are all areas where single young professional are buying homes. 

Why not let a professional or three look at it so you know exactly what the problem is and the costs to fix. 

Great way to pick up some good info and possibly a deal.You can also search NARPM.org for the RMP (Residential Management Professional) and MPM (Master Property Manager) certified.Download BP’s newest book here some good due diligence in Chapter 10.

Go to NARPM.org you will find accredited professionals.

@Cynthia Scaife,@Rob Beland,Aaron T.As a professional investor, I do not believe in banks or hml ( hard money lenders )As a professional experience, I've Never as an instrument vessel to obtain property's.

If you put together the right deal and have some of your own skin in the game, finding financing for small professionally managed multi's shouldn't be impossible.The easiest way to find out if you can put together a super deal is to TRY.

Question- there is probably a cool, professional way to word it, but I was wondering:  if I wanted to work/partner with a friend of mine who has the funds -but none of the time, knowledge, or contacts to find and manage properties- I would find the properties, find renters, and manage the property, and he would lay out the %25 down payment.