Looking for suggestions/help with a seller

[Jonathan Newsome]

Hey BP!

Looking for ideas or suggestions with this deal. I'll jump right into the details now. Think I should of posted in this discussion to begin with, though I'm unsure. 

3bd/2ba SFH w/1,524 sq ft. built in 2004. Location: Waynesville, MO (20 min from Fort Leonard Wood)

The seller has remodeled the home, including but not limited to: a/c (1yr old), Floors (Pargo), Stain Resist. Carpets, Ceramic tile, remodeled bathroom (sinks, showers, fixtures), and new paint. No repairs needed at this time or IF any, Repair/upgrade cost would be less than $5k.

The good: Home ARV is approximately $156k. It's a turn-key property. Current tenants paying $1,100 mo and will be moving out in Sept. (lease up). Property is currently cash flowing approximately $250 on a 15 yr amortization loan. 

The not so good: Seller has low equity in the property, so there's still a decent loan balance left. Seller is motivated, however want to get rid of the mortgage under their name (sub-to out of the question). They've tried listing it a few times in the past, but no luck selling.

The properties don't sell too quickly in that area, however they rent like hot cakes!

I'm looking for any suggestions/ideas to help this seller out. 

[Rachel H.]

@Jonathan Newsome You could try talking to a few property managers regarding what their thoughts are for renting. It's kind of weird the owner is selling if the property is cash flowing. Unless he needs the money from the sale for something else. Regarding repairs, there are always repairs. I'm not sure how old the property is but it's a good idea to see the age of the roof, electrical systems (heating and air conditioning), plumbing and hot water heater. These are all items that need to be maintained and replaced eventually. Also, you'll need to know the condition of the home on the inside which will require a walk through when the tenant is not there. Hope that helps. Good luck!