My girlfriend and I put an offer in for a duplex in Highland Park Richmond for $10k below asking ($95k to 85k), seller pay closing. 2009 the roof was redone, all new plumbing, electrical, mechanical, the permits are all completed and approved.

The demand has driven investment prices to around 80% when you used to buy below 70% all day.  

@Thomas GarzaPlease see below.

That or buy a house below what you really want to live, so you can later fund your business. 

If the borrower is able to document (per the table below) that the rental property was not in service the previous tax year, or was in service for only a portion of the previous tax year, the lender may determine qualifying rental income by using Schedule E income and expenses, and annualizing the income (or loss) calculation; or fully executed lease agreement(s) to determine the gross rental income to be used in the net rental income (or loss) calculation.

Look below this Window, and you will see a list of names of people that have posted in this thread.

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Below is just for the mobile home income.

He also tells everyone to never buy a multifamily building at a price above 20% below market.

For example, you may pay close to market for a home (ideally you would not) but if the subsequent housing expense (P&I, PMI, maintenance, insurance, taxes, etc) are below your current housing expenses then you can bank the difference and put it towards your next property.