Duplex analysis in nj

[Jon Lafferty]

Ok gang Here is a duplex deal I am analyzing . Hoping I can get some insight from you all. The main thing that caught my interest is the seller financing with sub-2 terms. Purchase price 65k Rehab cost 65 k ARV 190k Monthly rent 2100 Taxes 5500 annually The deal is that I will take over the previous owners payment @700 monthly. Typical sub-2. From there I would rehab and try to get it rented out at 1050 per unit per month. My goal is to cash out refi at 70% ltv @ 133k Thoughts?