Often times, their approval processes are slow.Credit Unions - Their member structure also subsidizes their financial structure so they can also be a source of low-cost financing.

Seems like it's in a lower end area so if it is filled you will have tenant issues and turnover cost.

The city wants to tear the property and surrounding properties down Zillow said it’s worth 38000The city offer me 13000.I could use some adviceHard to give advice with limited information, but as a general rule, the longer you wait and the further down the line their project is the more valuable your property will be to them.Zillow (and all automatic online) estimates are very unreliable, so don't base on that.

MLS usually get's you the highest price but you need to account for the higher closing costs.

Any kind of non QM financing will have higher closing costs compared to conventional.

I've been updating things that need it and lucky enough, I can do the work myself to keep cost down for now, only because it be my first rental.any advise would be much appreciated. 

I've read many of the BiggerPockets books like - House Hacking- Flipping- Estimating Rehabs- Multifamily Millionaire Book I and II- How to Invest in Real Estate with Low or No Money Down- Investing from a Distanceand even some outside of themand have been wanting to do something in Real Estate for awhile.

This deal taught me the importance of overestimating rehab costs and always having a solid team of professionals on How did you find this deal and how did you negotiate it?

Quote from @Jaycee Greene: Assuming you pay asking price, I'd estimate the down payment for something like that using a hard money loan (HML) would be around 40% of the purchase price and your monthly payment would be $2,600 with an interest rate in the low 7% range (probably need a 700+ credit score to get that).

If I were to do a traditional VA loan, the loan would be close to 7%.Below are what I understand to be the numbers so far:Seller purchased the property in DEC 2022 for $1.13M (owned for 2yrs)Current estimates are Zillow= $1.26M/  Redfin=$1.323MOur agreed purchase price is $1.25MSeller financing would be $120k @ 8% for 3yrs.No commission cost.Small percentage of fees/ costs in the tune of 1.5% of loan amount.Let me know what you think and if you need any additional info.