Duplex Situation in southern indiana.

[Dan Harrison]

All,

Thank you for the warm welcome to BP. This is very much what I have been seeking for a little over a decade and finally I found the information and community literally at my fingertips.

Anyway, I currently have 50% ownership in a fully occupied duplex in Southern Indiana. The property is free and clear. I am debating on how to finance the property & manage the property of the other 50%. The other owner is my uncle who has expressed interest is selling his share on multiple occassions. At this point, I believe the comps would come in at or around 90k to 100K. My uncle has noted amounts for purchase in the amounts of 40k to 50K. One side (my side) rents at 800 per month with a 600 - 655 profit monthly after insurance, tax and cap ex. The other side although smaller, rents at 650, with approximately 400 in profit monthly. 

My challenge is getting the right price for the property. In addition, I am not currently employed in a full time job, therefore I am not certain how I should set up the financing or if I can even go down this road.

Please note I am not asking for a deal or a financing solicitation, only insight from seasoned investors. 

I would be grateful for any advice or suggestions the community may have!

Feel free to contact me via BP or this post!

Regards,

Dan Harrison