Hi, everyone I need some help. I have been looking at properties and trying to educate myself for about the last year. I had decided on properties up to 4 units, with a purchase timeframe within the next year from now. I stumbled on a listing for an apartment building that has 14 units. They haves it listed for 300k. Here are my issues/questions:

Issue 1: As I said I was planning on buying within the next year so I am not financially prepared with the 20% down required to finance 300k. I can have 10% saved in the next 4 months if I start now.

Is there any method to finance 100% now?

I have a gross income of 90k and a 713 credit score. I sold my home in August and am currently stationed overseas with very limited expenses.

Issue 2: I am stationed overseas. My family would have to inspect the property and be my eyes on the ground there for up to the next 2 years.

Issue 3: The property has been owned and done managed by a local couple. Their records keeping is not good, and I’ve had issues getting exact data.

Question 1: How would I vet a management company from overseas?

Question 2: Would a management company handle the maintenance?

Question 3: How do I know it’s a deal worth making as my 1st investment or should I stick with my original plan of a 4plex to get started?

The only reasons I am considering this property is it’s location. As well as the fact I know for sure this area is lacking in small apartments so the demand for tenants is present.

Any advice on who to talk to or if I should even be considering this deal would be greatly appreciated. I have all the data they have sent me and would be willing to share with anyone willing to provide guidance. Thank You in advance!

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Need advice purchasing 14 unit apartment building.

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