I’m looking to purchase a duplex in Charlotte, with one unit being turn-key and the other in need of repairs.

My calculations are based on 2 sets of numbers - the numbers the seller has provided, and my own calculations accounting for 5% for vacancy, 5% for repair, 5% for capex, 10% for property management and actual costs for property tax/insurance.I am trying to decide if this deal is worth pursuing or if I should walk away due to the premium on the homes.

But the city is giving orders to repair or demolish them.

Open a HELOC for repair costs.

Is it because you plan on using the cabin for personal use as well as an investment, or are you planning on fixing maintenance/repair issues yourselves, or something else all together?

If its a matter of repairs to bring the 5 unusable ones up to par, then get an estimate for those repairs and ask for that amount. 

It turned out to be the right move because he encountered a few unexpected repair issues that would have made monthly payments stressful.

I’ve been driving for dollars in hoping to do some direct mail here soon to possibly find a deal that way where I can use my HELOC only for the purchase and still have some of it leftover for repairs.

Clean and make repairs, then put it on the market and rent it as quickly as possible.

Inspect for any rot or damage periodically, and replace or repair sections as needed to maintain its condition.Potential Upgrades / Considerations:Security:Enhance security with robust locks, a video doorbell, and exterior lighting.