Chapter 13 and Deal Analysis Q's. This could be my First deal!!

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Good Morning BP!

I have a scenario I truly hope you can help me with as I can not fairly evaluate it. My father has 2 mortgages on the house I grew up on. He is planning to file for Chap 13 with the payoff plan to have my sister myself and he pay off the unpaid 1st mortgage and the remainder of the first mortgage and the second will be forgiven after 5 years.

Here are the numbers and info:

1) Location Sandwich, MA (Cape Cod) MLS#72092847

2) Total cost after 5 years: $232,799 (115,826 on first 116,972 on unpaid balance)

**If sold prior to 5 years beforehand the 2nd mortgage will not be forgiven and this would not be a deal**

3) Needs about 30,000 in repairs and updates

*This is pending an inspection of course but I have a GC in my family who provided me that ballpark

4) ARV and 5 years of payments: 360,000 based on current comps

**(What are projections for Cape Cod? I am seeing 1% growth through speaking with others but want the community opinion)  

5) Monthly payments 3800 (Not including 1800 for water and electric, insurance paid by bank in bankruptcy/is incorporated in the 4100)

6) Breakdown of payments

Myself 1600/month

Sibling 1600/month

Parent 900/month

The plus side to this deal for me is that I own a property in 5 years that could appreciate well based on location, the downside is that I would have to move in with the family and the fiance is not so happy with that and we can not yet afford a second place to live. However, if we could do you think this is a deal!?

Also as a rental:

Would only rent for about 2000 but could rent out a room for 700 and contribute my portion to still keep even

Thanks so much!!

-Lambda