If you swing for the fences, don't be surprised if you strike out.

The sellers says it's just college boys and that's to be expected.He's currently getting good rents...as unbelievable as it may seem and if cleaned/fixed up it could make more as well as increase the value of the property.We own several coworking/coliving properties in the US and Mexico, so we are used to hospitality and properties out of state.However, my questions are;Is this a norm for college students, or student housing? 

Maybe seller holds a 2nd, maybe partner with someone, maybe get some F&F (friends and family) money, maybe offer a higher rate for the 2.5 years the 2nd is outstanding. 

Tired landlords have been the sellers in most of the situations, but also kids who inherited a probate house, and don’t have the resource to fix it up.  

Seller financing is also quite attractive, though I guess there are few of these kinds of deals available. 

My goal is to gain a solid understanding of the process, master deal analysis, and ultimately close my first deal.Right now, I’m focused on learning the basics — from finding motivated sellers to building a strong network of cash buyers.

I am not in the flipping market but I handle multifamily transactions for buyers and sellers who are very transactional.

A property qualifies as Homestead for this exemption if an eligible owner files a Principal Residence Exemption (PRE): https://www.michigan.gov/taxes/0,4676,7-238-43535_43539-210891--,00.html#:~:text=Section%20211.7cc%20and%20211.7,purposes%20up%20to%2018%20mills.Many investors have gotten an ugly surprise when they bought a property that was a primary residence of the seller for the last 20 years.

Negotiating seller concessions, networking with local investors, and learning property management skills have been key to finding deals with strong long-term potential.Good luck!

- Doesn't matter what seller is asking, only what amount makes your analysis work!