On the surface, the deal seems appealing, but there's a catch: the asking price is $475,000, which is about 18% over the market value (based on comps and DealCheck estimates around $402,000).Details of the DealProperty: Duplex, 2,400 sq. ft., Purchase Price: $475,000 ($197.9/sq. ft.).Estimated Market Value: $402,000 ($168/sq. ft.).Financing Terms: 2% interest rate, with a 9-year balloon.Unit B Income: $2,049/month (Section 8 tenant through November 2025).Unit A Income Potential: Similar rent or higher; Section 8 cap for the area is $3,234/month.Monthly Loan Payment (P+I): $1,386.Cash Flow Breakdown (if both units are rented at $2,049/month):Gross Rent: $4,098/month.Vacancy (10%): $410/month.Operating Expenses (37.3%): $1,376/month.Net Cash Flow: $943/month.Key QuestionsWould you be comfortable paying an 18% premium for financing at 2%, especially in a market where current mortgage rates are closer to 7%?

I’m a fan of SFR.

Obviously tough to give advice based on minimal info and no info on your personal situation.

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Don,Just curious why you think a company based in Las Vegas would be a warning sign ??? 

Or a seller finance calculator showing the monthly payment based on negotiated price, interest rate, down payment, etc.

. :)IN SUM: Based on what you've shared, it sounds like you won't need to rezone if you just want to build a duplex.

Roi will be judged based on action taken, connections made and net worth growth.

We are based in NYC but are considering (as of now) locations outside of NY but within a 300 mile radius. 

If that's the case, you should be able to rate/term refinance at ~75% LTV with a DSCR loan, and with some interest-only basis, your payment will go to ~$850 (based on ROUGH pricing TODAY).