Analyzing a deal, asking for some advice

[Joshua Weller]

Hi Everyone,

This is my first post and first real look at doing a deal, I have been looking for a duplex for the last year. 

Property is a duplex: 

207 side is two bed 1 bath, central heating. Just needs some paint work and I think I can rent it out for at least 800. 

209 Side is a 1 bed 1 batt and needs a lot of cosmetic work. Everything needs to be redone. 

I would plan to live in 209 side and fix it up while renting out 207.

Roof was done in 2005 a few miner repairs only

HVAC system is new with a 10 year warranty in 207. No HVAC in 209

Under the house is a disaster. Multiple leaks spotted, water and mold is everywhere. One of the sump pumps is not working and needs replacing. 

Finances:

Agreed Price: 87,000 Seller pays up to 3,700 in closing costs.

VA Home lone $0 Down, 4% interest Fixed, 0 property tax, 30 years, Estimated Monthly payment plus insurance is $516.

Other Duplexes within Hot Springs that I was able to find are selling for 110,000 or higher. None of the ones I saw in my price range are in a rentable condition.

Any help is appreciated! Thanks!