Would YOU do this deal?

[Bud Gaffney]

Hi BP family,

Would YOU do this deal?

7 units total (6 res, 1 comm. 1 building)

6 2 bed/1 bath. 1 1,000 ft2 comm. space (vacant)

$5,000 gross rents, comm. space vacant. (Rents under market value by ~$200/unit)

$450,000 Purchase Price

$40,000 Down

$410,000 owner financed @ 5%, 25 years. (no pre-payment penalty)

P+I = $2,396/mo.

Tax = ~$650/mo.

Ins.= ~$250/mo.

Water/Sewer= ~$300/mo.

Elec. = $100/mo.

CapEx = X/mo.

(Total ~$3,650/mo. w/o capex)

C+ neighborhood. Minimal repairs needed. Rents on the rise. Thoughts / Concerns. Thank you in advance!!!