Evidence of structural damage

[Neel Patel]

So I've come across this quadplex. The gentleman wants $90k for the property and it needs some repairs.  It is 50% occupied, grossing $1090. I can probably negotiate to $70k plus repairs ($105k all in). Rent the property out for 650/unit, so $2600 gross. My strategy on this property is going to be hard money for acquisition/rehab, refinance for 30 year. The only hickup in the plan is, that I had the inspection completed, and evidence of structural damage was found.(see attached) I figure, its not enough to claim structurally unsound. I'm more worried about getting permits for rehabbing, and when it comes time to selling (not a flip, but if ever we decide to sell that property), it could be an issue. This will be my first official buy. I've been stuck in an analysis paralysis funk during my jump to this new asset class. I have a couple quick serve restaurants, and I've learned the best info is with those who've risked it before. 

What are your thoughts on this property? Worth pursuing? 

I talked with other investors and they recommend going forward with the deal. 

[Mike McCarthy]

I agree with @Aaron Millis. It sounds like a good deal, and foundation issues like that can be a few hundred $$ to seal it, or tens of thousands to repair. An expert is what you need.

I’m rarely scared of foundation issues - as long as I fully understand what needs to be done.