It's hard to really count that, as they are both more like brothers than tenants.I'm a buy and hold investor for now, with the goal of having a $100k/yr income from investments in 15 yrs, pre-tax.I'm now in the buying stage of my first rental property.

I studied for two yrs. before buying my first REI property.

I offered a small down payment, 5% fixed mortgage, amortized over 30 yrs with a 10 year balloon.

Length of tenancy - 25 yrs, 21 yrs, and 12 yrs.

I would need a down payment, monthly paymentsw/interest & a balloon payment on the balance in full (5 yrs. max).

It has four apartments upstairs and a 4000 sq ft store front. it has not been updated in over 20 yrs. that's right up my ally and i really enjoy that building. here is the statsAsking price $85000Electrical update to code, bid for $23000 owner says she would pay $10000Apartments would take around $10000 each to updateNeed a new roof and furnace in 5-10 yearscurrent rents with new tenant will be around $2400 all updated could bring around $3000.Water, electricity, gas run about $600/mId love to get it at $60000 and plan to update apartments as tenants move out with a goal of being fully renovated in 5 years.

(The minimum term I believe is 15 yrs).

And it can be great if it's for the right price. btw, the second property I bought that was vacant for 3 yrs. has had barely any issues.

The 24k in interest that you are suggesting he would make is assuming you stay in the loan for 15 yrs, which it sounds like is not your plan.When it comes to lender financing, you will not be able to get 100% financing(they will be looking at CLTV).

Most do because of hail storm 2 yrs agoMust have newer hvac.From that point.Only cosmo fixer or less than 2k for plumbing, electrical code issues etc.It appears 3b is as good as 4b as far as rents.