Owner offered me 35k with owner financing, however he wants to talk to his renter that rent another property of his that borders the lot I’m interested it.

Now I currently have a job in construction management, and am usually working in the the areas near the NY border and sometimes in Brooklyn.

Goals: -stable cash flow, not as concerned about appreciation (check, assuming description is correct in saying they've had stable tenants. rental price should increase in the next couple years so i have some assurance there)-looking for min $100/unit (check)-C+ neighborhood (check, borders some B/A neighborhoods in upper Ohio City so hoping some absorption goes that way)Other things: -20% CoC return (almost check - Changing purchase price to $53,000 and have tenants also pay water/sewage would bump this deal right up to my criteria of 20% CoC.) 

He also randomly pointed to areas of "flaking" paint around the trim of the home and window trim on the second floor that were "too high up to test" so it must be "assumed that they have lead paint" and we needed to hire a de-leading contractor to scrape away and remove these random tiny spots of "flaking" paint.

@Jay HinrichsWhen I tell people that here in NJ or DE they think I’m crazy.

My partner and I decided to invest in the DE beaches area for STR vacation homes and condos, and spent 5 months and 26 visits to the area (a 3 hour one-way drive) before we started making offers through our local realtor that we were referred to. 

@Shane WelchIf the unit is not ready for its intended use - then the payments are added to your basis and depreciated once the property is placed into service.If the unit is ready for its intended use; the payment is expensed if it is a repair.If the payment is for an improvement; the payment can be expensed if it qualified for the de minimis election.

How to find a good residential realtor in Wilmington,DE??

The building I just purchased is on Lombard bordering Cicero.

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