Looking for Loan

[Jim M.]

I have a 5 unit multi family property I am looking to purchase. It is in a c neighborhood and bank owned. Purchase price is 30k with approx 15k in repairs needed. 3 of 5 units are rented currently. When rented completely property should bring 2250 a month. The property is in a rough neighborhood and

I have already been negotiating with the bank using my own proof of funds.
I have one rehab going on right now and a 2nd one in negotiations(with a biggerpockets member who I met on here!) which I am funding personally. I would like to leave somewhere between 10 and 20 percent of my own cash in the property. This would be for a buy and hold for several years and I would pay off the loan personally in one year or refi. Thank you.