Please Help me analyze this deal

[Savannah Lewison]

Today I've analyzed a deal that cashflow wise is great! Equity-wise, it would not be such a great idea. The property is priced high from the research I've done, and does need some work. I analyzed with the current price on the market but would only purchase if I could get it for about 10k to 15k cheaper. 

What are your opinions on this? I'm looking strictly for monthly cash flow. Would you purchase a property where you would be underwater in the beginning with a high cash flow return?

Thank you!

Savannah

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