The 2nd floor apartment is longer so the third floor can open out onto the roof of that 3rd floor (it's very solid - I've been up there and I'm 6/2, 250).

Offering $450K would leave room to cover the $50K in repairs, and since market rents support a solid increase after updates, this could boost your long-term cash flow significantly.

If you’re comfortable with the tenant risk and low cash flow in exchange for a solid property in good condition with long-term appreciation potential, then proceeding could make sense, maybe you you can negotiate some concessions?  

A proof of funds letter without any credible evidence to support it is empty rhetoric and a waste of your time.

Both deals have solid potential, but for a first property, the duplex might be a smoother entry point.

He even made a solid friendship with one of his tenants, who now handles some of the property managment for him.These neighborhoods are perfect if you want a vibrant urban lifestyle while also reaping strong rental returns.

Hey @Sharad Bagri,For cash-flowing small multifamily rentals in Columbus and Dayton, consider these areas:In Columbus:* Northland: Diverse community with solid investment potential.* Southeast Columbus: Dense suburban feel, popular with families and young professionals.* Old North Columbus: Urban-suburban mix, appealing to young professionals.In Dayton:* Patterson Park: Well-maintained with a strong community vibe.* Northridge Estates: Suburban area with various amenities, ideal for renters.* Walnut Hills: Quiet and community-oriented, great for rental stability.Areas to Approach with Caution:* Columbus: Some sections of Hilltop and Linden due to higher crime rates.* Dayton: Certain parts of West Dayton, which face economic challenges.Focusing on due diligence in these neighborhoods can help you identify stable, cash-flowing opportunities.

I'm not against hiring people without a solid estimate for the whole project but then it just means the work is paid based on an hourly / daily rate and I get daily updates on the progress and I watch them very very closely.

I’ve been exploring various strategies to land a solid rental property, and I’m particularly interested in trying mortgage assumption for this one.I’m currently looking at a property listed at $350K.

@Tenzin Lhanzey a duplex is a solid place to start; there are dozens on/off market in minneapolis.