a home run I believe??

[Todd Pavlik]

I would like to start off by saying thanks in advance. I recently came across a interesting property fsbo. it is a 2br,1 1/2 bath duplex with 9 unit storage building. The property is 12yrs old in above average shape. owners did this place right from the beginning,metal roof,vinyl exterior, tiled floors ect. looks like very little maitnence.I have been negotiating with the owners and here is a option they threw out to me. current monthly income 2230.00 monthly. expenses. ta xes. 308.00 insurance. 82.00 trash. 33.00 water/sewer 40.00 lawn care. 200.00 repairs/cap exp 87.00 total expenses 750.00 monthly purchase price. 155,000 bank finance 124,000 @6% 15yr monthly payment 1046.38 owner willing to finance 43,000@5% 231.00 monthly with a balloon payment 10 yr of 35208. this deal would give me 12000 cash back. Probably only net 7500 due to closing cost. Am I missing something or is this a smoking deal? I realize by structuring this way there is very little cash flow. But the way the property was built and finish there will be minimal future maitnence. I also have 31 other properties that will be free and clear within 5 yrs, so I have the funds to cover any serious future issues. I am very curious to what others think about this deal?