We incurred a net loss for the years ending December 31, 2017 and 2016, and had an accumulated deficit of $11.5 million and $7.4 million as of December 31, 2017 and 2016, respectively.The consolidated statements of operations below from the same SEC filing shows 2017 net loss of $4,085,485.For the yearendedDecember 31,2017For the yearendedDecember 31,2016Non-interest revenue:Origination fees$871,771$218,862Servicing fees509,939237,943Total operating revenue1,381,710456,805Net interest income (expense):Interest income2,287,701901,234Interest expense(1,921,693)(842,419)Net interest income366,00858,815Net revenue1,747,718515,620Cost of revenue(251,431)(131,753)Gross profit1,496,287383,867Operating expenses:General and administrative1,082,1371,083,200Sales and customer support1,316,356826,289Development678,844590,396Regulatory457,844596,687Marketing and promotions1,338,635983,812Total operating expenses4,873,8164,080,384Loss from operations(3,377,529)(3,696,517)Interest expense707,95643,695Net loss$(4,085,485)

If you can't cover that expense the property isn't worth it imo

I have not done a full analysis of each rental to see what the deferred maintenance is as I figured that would be after I am in contract with the seller.One item that concerns me is that I am coming up with an actual expense ratio of 55-60% instead of following closer to the 50% rule.

Our mortgage and expenses are roughly $25K annually.

If you go with a 4 unit property the cash flow may be enough to cover your mortgage, if not have money left over at the end of the month after expenses even with an FHA 3.5% loan. 

The yearly maintenance expenses plus the loss of equity were in the red and she’s on social security.

The reserves income could be equal to 6-12 months worth of expenses on the property, so keep that in mind as well.

Eviction is expensive, and if she's doing a bad job with the paint, maybe her security deposit will cover most of the cost of repainting the house if you let her complete the lease?

Because loopnet is free and CoStar is so expensive there is no way CoStar is going to automatically input all of their listings into loopnet (similar to Redfin pulling the MLS data for example), it just wont happen.

If you own something directly in a major metro, and it is not too much of a financial pinch to prevent you from steadily adding to the portfolio in a less expensive area, keep it.