This particular type of building appears to be a track of duplexes that were built in the 1920s. They are exceptionally well-built, with very strong bones. This specific duplex was owner-occupied by people who took fantastic care of the property, doing a great many pricey and important renovations, such as a metal roof and central air conditioning on both sides.

How did you find this deal and how did you negotiate it?

Realtor.com. We simply scheduled a showing, and ensured that we put an escalation clause in our contract submittal. The clause triggered, and we won the property.

How did you finance this deal?

This is a typical 25% down investment loan. Loan interest is 5.6%, but due to the low cost of the property, this amounts to maybe $60 more per month than it would be at 4.8%. The difference is negligible.

How did you add value to the deal?

In the future the remaining portion of the back fence that is deteriorating will be replaced. Additionally, the water heaters probably need to be replaced within a couple months.

What was the outcome?

Inspections went phenomenal. Inspector told us of only a couple issues: the age of the water heaters and the central air units. Other than that, no big issues to worry about. If I had the resources to do so, I would buy as many of these track duplexes as possible. It's like they're built to withstand a nuclear blast; they're incredibly durable/well-built!

Lessons learned? Challenges?

Don't put too many irons in the fire at once. It's easy to get overly excited when purchasing a property, but it is a fair amount of upfront work. Therefore, do not inundate your loan officers/real estate agents with thoughts of other properties while you're in the process of purchasing one with them. Give yourself a maturation period (at least until you close), then start talking to them about another again.

Otherwise? Just seeds in the interim.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

- Real estate agent: Colleen Carr. If you're in the Dayton area, get in contact with her. She's very, very good. Real professional woman.

- Loan officer: Phil Forbes. Also incredibly savvy. He's never failed to get me approved. He's also a pretty nice guy who is very patient with your questions, no matter how silly.