That means we aren't being told the truth? 

You just get more amplified problems.Some syndicators build machines and have to feed very, very large staffs and do deals that really aren't deals to begin with and hope for the best.Many multifamily syndicators PORK up debt because they want to have to raise as little as possible and try to massage bloated returns to LP to entice motivated investors to place money.

They aren’t cheap.

SFH - the returns aren't there to justify the time/opportunity cost in my opinion.

Seems every new investor fails to understand the difference between Class A, B, C & D Neighborhoods/Properties/Tenants:(They all assume anything they buy will be Class A - and then are shocked when their performance expectations aren't met.So, yes you can easily find properties to BRRRR in the Midwest - but most of them will be Class C or D with tenants having credit scores under 600 => which have a 20% chance of nonperforming on their lease!

We certainly aren't gaining $276,000 with $200 of cashflow.

You aren’t creating tax deductions, you’re simply pulling them forward.

If those boxes aren’t at least “reasonable,” I’ll usually stop there.That said, I know I still get stuck sometimes overanalyzing or dismissing deals too quickly.

If your taxable income is low due to business deductions (not depreciation), traditional banks and credit unions that underwrite based on tax returns aren’t ideal.

Similar properties seem to have gone for 14-15k but there aren't many super close comps, the ones that are close in description are older (2+years ago).