Hi All,I wanted to lay out a deal I am looking at and get others opinions on quality of the deal and of options to finance considering the assumed mortgage.Asking Price: $1,425,000Mtg to be assumed: $720,000; 4.68%; 5 yrs remaining on 10 yr term; $140,000 payout penalty (which is why seller wants mortgage to be assumed)2014 Revenue: $119,926Expenses: $78,294 ($37,593 in repairs/maintenance)NOI: $41,6322015 Revenue: $129,727Expenses: $127,815 ($83,181 in repairs/maintenance)NOI: $1,9122014/2015 maintenance and expenses are inflated due to renovations (windows, metal roof, flooring in common area, some upgrades to suites)I am very new to buying buildings and have only been the money partner in the past.  

Even though we're off the gold standard, look what happens to precious metals (a safe harbor) during excessive inflation... their stored value goes through the roof. 

Your equity is just bricks and sticks and metal and glass.

@Matt Miller  There are all sorts of options, like a locking desk drawer, locked owner's closet, etc.The key is to be sure that whatever you put it in isn't metal, so not in a metal filing cabinet for example.

They somehow drove all the way to the house, knocked down a pillar for the upstairs porch, drove into security door, shattering the glass and bending twisting the metal framing, and also broke the downspout on our drainage system.

Keep in mind, it costs 2-3 thousand to dispose of a mobile home.There are about $1500 in dumpster fees, and only about $400 worth of scrap metal there.

If you have a metal roofing job in progress, and they leave all of the metal sitting in the front of the house in plain view, I would be more likely to ask the contractor to contact his insurance, than me contact mine.  

I'm about to purchase another property with the electrical wiring missing (removed for the copper) and the coil inside AC handler missing (stolen). 

Maybe it's a great situation to tap off your existing split-system (if you have a forced air system), depending on existing furnace btu capacity and condensing coil tonnage.

Is it a falling down metal warehouse, or a downtown high rise?