I’m Sylvia Graves, a multifamily investor, business consultant, and co-founder of Fidelis Summit Capital Investment.

I actually think you would be better offering $1.5M cash and use a hard money loan for six months and refinance into permanent debt. 

Where in the Chicago area do you invest?

Hi @Chris EhrhartThere are two prices in a negotiation, one is the offer counting multiple factors, mainly Cap rate and visible repairs when is a investment property.The other one is when you do an inspection.You listed 5 items here so I'll comment on each one:- Electric panels, this is likely to be found during inspection.

However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates this year).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

Hi EverybodyLooking to connect with investors, buyers, sellers, flippers and others in the Biz.Link Up Ty

Their ability to recover their money should you default is much lower in this position.

Great to see you getting into real estate investing!

This massive project, which has already seen a $3.7 billion investment, remains one of the most significant economic development initiatives in central Ohio.

Here are my thoughts:First, your 2.6% mortgage on the rental is an absolute goldmine—it’s a rate we’re unlikely to see again in our investing lifetimes.