The property has a 3 bedroom home, as well as a one bedroom apartment above a detached garage.

Trust me, that lender is going to factor in vacancy as it's just a part of real estate investment life. 

She maintains her apartment and dogs are in cages or outside, but the place smells like a kennel.

Depending on the city, size of the rental and location, a 6 Cap is not unheard of, but that would be for say a 30 unit apartment or more.Managers prefer to have lower rent and fewer restrictions as it makes it easier for them to fill the units and keep the tenants.

So I'm looking at apartment buildings in Phoenix, I have a list with addresses and mostly names of the companies that own them, some have first and last name of an owner but most of the leads only have the name of the LLC the property is in.

I plan to turn floors 2-4 into apartments, so around 12 units.

Ideally, by the time we're in our mid 40's, it would be nice if she could switch to a part time/casual type of work schedule and I could leave my full time job and concentrate on maintaining our real estate portfolio full time, and we could both have more time to spend with our 5 kids and eventual grandchildren.My wife and I talk about saving a lump sum to put down on our first rental, but after spending 15 months saving and paying off debt, I am ready to start investing! 

Apartments can be expensive to maintain and tenets may not pay.

If someone like me who went through bankruptcy and lost everything can do it - and now acquired over 1,000 apartment units, anyone can do it.

Besides the mhvillage value, the community it is located in, plays a part in what you can ask for the home.