I also like Haverhill as a peripheral city to Boston - commuter rail stop, close to major highways, and nice downtown with some municipal improvements on the way.PROPERTY OVERVIEW:Unit Mix: (3) 2BR units, (1) 1BR unit, plus parkingRecent Upgrades: New roof, updated electrical panels, new hot water heaterLocation: Walkable to downtown in a well-established neighborhoodParking: Dual driveways provide off-street parking for tenantsRENOVATION SCOPE & COSTS:Limited photos available, but if the rest of the house is in similar condition, likely cosmetic rehab only (~$30K per unit).Potential upgrades include paint, flooring, kitchen cabinets/counters, and appliances.Ideal for a DIY landlord or owner-occupant looking to add value, but also works well for any investor seeking cashflow.MARKET RENTS & INCOME POTENTIAL:Market Rent Estimates (based on local comps):2BR Units: $2,200 - $2,500/month1BR Unit: ~$2,000/monthTotal Potential Rent: ~$8,600/monthCurrently Fully Tenanted:Current rents cover mortgage payment.Would need to manage tenant move-outs before renovations, which could delay the project.Evictions may be necessary if tenants do not leave voluntarily.FINANCIALS & PROJECTED RETURNS:Financing Assumptions:20% down payment, 7% interest rate, 30-year fixed mortgagePrincipal & Interest (P&I): ~$4,524/monthAnnual Expenses (including taxes & insurance): ~$17,000Utility Costs:Heat is not separately metered, leading to higher utility costs (factored into analysis).Projected Cash Flow & Returns:10% cash-on-cash return once stabilized$31K+ annual cash flow5-year total ROI ~95%, factoring in principal paydown and 2% annual appreciation

It seems you're considering Elite Funding Group LLC for funding a project, and you're seeking feedback from others who have worked with them.

Readers should seek professional advice.

Readers should seek professional advice.

This affordability attracts buyers seeking value, especially those priced out of more expensive regions.3.

Hey BiggerPockets community!
I’m a young entrepreneur in the real estate space, and I’ve recently started my own company. My focus is on raising capital for acquisitions and acting as a general partner in real estate...

Seek guidance from financial advisors or real estate experts if needed, and don't hesitate to continuously educate yourself about the evolving landscape of real estate investments.

This is another issue I see with those who seek out alternative financing because it’s the only way they qualify to make the purchase. 

Readers should seek professional advice.

A prudent investor doesn't seek quick riches through shortcuts.