Four-plex deal

[William Johnson]

I have a second appointment tomorrow morning for a four-plex.  Here are the cold hard facts:

- ARV 500,000$

- Renovations (I will not know completely until tomorrow but I estimate it at 100,000$)

- Apartments are empty

- He owes between 60 and 70k on the mortgage

- He is extremely motivated

- He needs between 50 and 200k from the deal

- He is open to the following:

sub2 and partnership and, to a much lesser degree a straight out purchase at 250k

- I have also communicated to him that I would probably bring a partner into the agreement.

Thoughts from the BP community?