He could offer the seller (after an appropriate amount of time) a payoff of the note  at a discounted price (say $325k).  

So, lemme get this straight: stop signs are interference with traffic, rather than a regulation that enables us to have traffic in the first place.sounds like your definition of free market is “unfettered lawlessness.”

I just wanted to see if I could get a straight up response/ answer out of him.

I would like to know what all qualifies as completely clean here- Electrical wiring is normal and no unlicensed modifications - Structural inspection is also clean.Seller is ready to discount the price by ~20% from market plus the cost to repaint the whole house What are other questions to ask and things to consider in this scenario?

Flexibility is an important consideration.If you hear 7.5% DSCR rates, that probably has 1%-2% in discount points (up front closing costs to buy the rate down), a 4-5 year PPP, and it probably assumes a perfect rents/payment ratio. 

When buying a note at a discount (e.g. $100k performing I/O note for $90k), how do you classify the extra principal you get back when the loan matures?

Of course with myself that simply wont happen :)  I am very straight forward with my business anyone in our business has had bummer deals and lost money myself included..

Hey Taylor, I am not sure if you were financing it I would jump straight to trying to refinance the investment property.

And takes off to catch road runner, blasts straight past, face first into a cliff aaaand "splat"..... 

Or you can apply a discount rate to your total capex in accordance to when you forecast the expenses.