Need help with a possible buy and hold house

[Joshua Gordon]

This is a 3/2 in Titusville, Florida. It is actually my childhood home, though I am trying to not let that make me do something stupid. I still want the numbers to work.

Asking price: $72,900

I comp it at $50-55k (though just a quick comp, still new at that)

Going to offer $50k but willing to go up to $60k.

Market rent would be $850-900 a month (as verified by my realtor)

Can't figure how to put the property report on here from an iPad, so I just took screenshots of it.

Am I missing anything else? Thanks for your time!

[Sharad M.]

If your comp numbers are accurate at around $50-$55k, then why would you want to pay more than the market value? IMO, one of the worst things you can do in real estate is over pay for a property.

I understand that this is your childhood home and if that holds some value for you and you are okay paying $5k for that feeling, then that's fine, but strictly looking at it as investment property, I wouldn't pay more than what the market value is. I look to buy properties where I am all-in at no more than 80% of ARV.

If you are getting a loan on the property, then you would have the issue of appraisal and you would have to bring more money out of pocket.