Personally, I’d review MLS data, Zillow, and consult with a realtor to determine an accurate ARV.

This will allow the team to develop and review project processes and management strategies to move forward with more challenging, yet rewarding, properties.I come from a very process-oriented background (Mechanical Engineering), and my goal is to learn and develop each step of the process, from start to finish, to continuously improve the team and ROI of each project. 

I’d just recommend reviewing the renovation requirements for the historic district since they can add time and cost, but the right team can help streamline the process.Good luck with the deal—sounds like a solid opportunity!

She is in a good position with the contractor who appears to be in direct contact with the tenants in terms of minor fixes as they arise. 

I always make sure that the properties are cash flow positive, but the large bulk of the money I make from them is from the other items (appreciation, debt paydown, tax benefits, etc). 

If you find the right property, you’ll likely position yourself for long-term success, even if there’s a brief vacancy period to navigate.

Did you use a local bank that agreed to a Seller Carry in second position?

The combined entity would pose a significant challenge to other competitors.The offer is still under review by a special committee of Seven & I’s independent directors, with no guarantee of a final agreement.

It sounds like you’re in a great position to get started—$100k saved up and a clear goal are huge advantages.

Many sellers will not accept this since they are in second position, and it is very risky since if you default (higher probability for investors with no money and/or no skin in the game), they will most likely be wiped out during a foreclosure.