Purchase property with tenant/buyer ready

[Mike Cartmell]

This is a deal I came across. I know the cash flow is pretty thin but look at the back end.

The Tenant is Already in Place! He's just waiting for an Investor to Buy the House. He has $5,000 to pay you as a down payment. He'll pay $1,200 per month rent, generating total cash flow of approximately $3,500 over the two year tenancy. He has agreed to buy the house for $209,000 in two years while the purchase price is $185,500. Total Profit Potential = $27,529 from your investment of $18,550! ROI = 148%

4 Bedrooms, 3 Baths, 2 Car Garage 2,019 total sq. ft.

What do you think of this deal?