@Eamon Conheady - was the other lender a company or a private individual? 

What's left after all that is your cash flow.Collecting cash flow to spend is an amateur play.

If not they could spend money and time and offend buyers if they update the property incorrectly.There are other options, such as landlording.

It's impossible to answer your question without knowing how much you have to spend to acquire the house.

This is a good reference for myself and personal private lenders.

Hello all,We have a prospective family friend that would like to do a sale private party.

We are going to spend about 20K to bring it up to par but defiantly worth it.

Martin the property management argument isn't really an argument if you look at the bigger picture that most investors don't want to manage their properties anyways because they are spending most of the time on their main job.

Had to spend additional money to get everything fixed.  

I have a potential private lender, but I need to determine if this is a viable investment opportunity and explore the best financing options You posted this same thing three times - in two it was a 36 unit and in the third a 32 unit.Do you have any other details about the transaction or perhaps wish to share your initial analysis so the volunteers here can poke holes in it or tell you why you're right?