Interest rates decreasing a little more will be necessary to make this possible, too (DSCR loan).Also I will have another deal refinanced by then and gain about $70,000 of capital from refinancing that.

But I want to know that the actual property manager is communicative, can deal with curveballs from tenants, can stay on top of CMHA, etc.

Hypothetically, this deal would perform very well if you achieved 80%-90% occupancy.

If you need help analyzing a deal, DM me, and I’ll point you in the right direction!

If the repairs are manageable and you’re getting at least a 10-15% discount, it can be a great deal—but avoid properties with major structural failure or uncooperative sellers.

Creative financing to buy deals is another dangerous approach.

There is another STR owner in this community I've talked to, and he's been doing it for 1-2 years and he said it's still been a real pain to deal with. 

I hope your deal and lender can fund soon!

If you can get a note for 200K at no interest and you have completed your due diligence on this deal, then go for it. 

This approach does not work on every deal, but if they are doing 1 out of 3-5 deals like this, it really helps the fix & flipper to develop long term wealth, rather than just chasing the next deal for chunks of money.