[Calc Review] Help me analyze this deal, please!

[Nicholas Smith]

Hey everybody!

My uncle has a free and clear townhome that he is trying to get rid of, and I've been wanting it for a very long time. The problem has always been that my financing was tied up in other things. He wanted to help me out since we are family and agreed to do an owner financed interest only 5 year balloon loan. My plan is to do a BRRRR by rehabbing the place to get it up to par for renting and then pay him the $100,000 that he wants for the place. Now before anyone even looks at the report, I know that this isn't a standard looking balloon loan, but my uncle was fine with the interest rate being as low as I have it. This will be my first rental and will definitely set the groundwork for another. So he wanted to help me out. Thanks in advance!

I want to become more active as a Pro member and utilize the tools that I'm paying for so I wanted to know if you guys can give me some opinions on this deal I'm working on.

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