[Calc Review] Help me analyze this deal

[Cristian Aviles-Morales]

Hi BP,

I have found a Condo that I am analyzing. But maybe I'm using the calculator wrong? The listing price they want for it is $180,000. 
If they're willing and accept my offer of $150,000, I'll have a cash flowing property. 

But I'm trying to work it out in my head how I can ensure I don't walk into a mess. The property is move-in ready according to the listing agent. I will be verifying that by walking through the property, as well as having a certified inspector walk through as well. I will also be touring the neighborhood to get a feel for it but I'm sure it'll be in a Class C Area.

It is well centralized. Unfortunately the property is border-line near crime areas. It's the type of place where on this street you're great, but down the road a flew blocks you aren't exactly in a great neighborhood. I would not say it's Class D either though. 

I would have to finance the 20% down ideally through a HML or private money. I would have to structure the deal in a way where I could pay off the Lump Sum + Interest after 6 or 12 months instead of making monthly payments. That way, I can refinance the property after a seasoned date and have enough to pay off the lender.

But, if I refinance then I will have a negative cash flowing property. Anyone have experience with dealing with that? Does this make the deal bad and I should not continue with it? I could eat the cost (roughly $50 negative/month). 

It is in a downtown environment with access to pubs, highways, etc. I don't want to bank on appreciation so I am not considering it but I guess technically I should mention that it's a growing city. I also know that a big employer here will be hiring on 1,000+ people next year. All high income earners. 

What I'm asking really is for some guidance and some different perspectives. The deal can stand on its own if I can get it for 150,000-160,000. But the refinance is what I am unsure of and maybe someone can provide insight into that and maybe what I can do? Thank you. 

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*This link comes directly from our calculators, based on information input by the member who posted.

[Sam Shueh]

Looks like you are on the proper path. 17% discount from listing price is a bit tough. 
I assume you will manage it and the HOA should be included.

You should look at AVMs see if the asking price and rental price are accurate before making an offer using Zillow, Redfin and rent sites including Craigslist.