FOUND A VACANT HOUSE. MEETING THE OWNER THIS WEEK. I'M NERVOUS.

[Hieu Bui]

Hello Everyone on BP forums,

This is my first post so my apology for any mistakes that I'm not aware....

I was driving around... Found a vacant duplex having broken windows and tall grass violation notice posted on the front door. I was able to search for the owner contact information online.

She called me today. She said she's currently fixing the floor for 1 unit and used the other unit as storage area. She's interested in selling it AS-IS. Based on how abandoned this place look and the fact that the lady is 71 years old, I'd think that she is very motivated to sell. I also found out that she and her husband owns 4 duplexes total in this area, and their primary residence is 45 minutes away. Obviously they're investors, but why would they leave a unit vacant like this???

I'm scheduled to meet her at the duplex this Saturday to check out the place. This makes me both nervous and exciting since this is the first time I'm buying a house. I'd appreciate any advice or suggestions you guys have for this meeting. I have questions about the following issue:

1. The house will need rehab. I have no clue how to estimate the rehab cost. Should I bring a contractor to this meeting to get a quote of the rehab?

2. Should I bring an RE agent to a meeting? If so, what role would they serve?

3. I know that the ARV of this property is around $110-120k. And the rental income is around $1400/month. Should I wait until I know the rehab cost to make her an offer?

4. Assume my rehab cost is around $20k and I offer $60k for the place. Assuming putting 20% down at 4.5% interest, My CoC ROI is conservatively 9% and my equity would be $72k. The attached photo shows how I calculated the number. Would this be a good deal?

Thank you guys so much for reading and helping.