You have to buy very low to make any money on the project.

Some of the costs quoted shock even seasoned flippers as they are lower than even material are in many markets. 

Even if they don't pay the max, they will counter with what they will give you and you can take it or leave it.If you list too low, you may be leaving money on the table so let them counter.

The maintenance and cap ex will kill the cash flow at that low a valuation.

Dumb Debt also means that the owner takes on recourse debt and personally guarantees it instead of non-recourse debt or other people’s debt (OPD) or cross collateralizes it with highly appreciated assets with low debt to value ratios.

In markets like Chicago or Baltimore, where there is not much new construction, we will see rents rise faster than inflation. 2) 2026 will see new multifamily deliveries slow to closer to historical lows, though not quite as low as what we saw in the great recession. 

Let's connect be great to have a seasoned agent up in Memphis!

This included some landmark deals including Rockefeller Center’s $3.5B loan and Miami Beach’s Fontainebleau $1.2B refinancingAlternative lenders filling traditional banking gaps with short-term solutions which has already begun a cycle of consolidation that will likely continue and accelerate in 2025The Office Sector Divide:CBD property values are down 50.7% from 2021 peaksClass A office properties seem to be in their own vacuum of prosperity with trophy properties commanding premium rents ($100+ PSF nationally, up to $247 in top markets) with strong occupancyHybrid work continues impacting older building valuations which have not faired as well, but this may begin to rebalance as more companies are instituting mandates to return to physical officesChallenges & Opportunities:$1 trillion in loans maturing by 2026Interest rates up from 3.5% (2021) to 6.74% (2024)Experts such as AEW’s Michael Acton and Blackstone’s Nadeem Meghji see the best entry point in the last 15–20 years and we agreeMarket Outlook:Current market conditions present unique opportunities, with inflation-adjusted prices at historic lows and yields at decade highs.

While you might find a lender offering low down payment options, you'll still need cash reserves for repairs, maintenance, emergency fund (ideally 3-6 months of expenses), etc.

I would at least start there and good timing to figure out a plan with spring slowly approaching and our busier sales season in WI.