This is not a total deal breaker, but am I little frustrated that sellers misrepresented 2 of the leases being annual until 8/31/2025.

Most self managers are intimidated by the process and put up with stressful issues like this for years and never take the simple, obvious steps.

This is is a very good area and would actually live in 1 unit, so 3-4k negative cash flow for living expenses is ok, as any house w mortgage would cost that.https://docs.google.com/spreadsheets/d/1tfbjOlyVsGW3nHLVPk_R...Key questions/assumptions:- Total for this deal in cash is 300k, anything else (reserves, renovation loan etc) would need to be a bridge loan or hard money- 1 unit is vacant and current rents are VERY under market, projected rent is what seller gave as realistic.

Is there something totally off limits?

A.7% interest 30 year term Mortgage $200,000.00 (04/01/2019)$1,561 monthly paymentsTotal Value $479,538.10 (04/01/2049)Total Interest $279,538.10B.7% interest 10 year term Mortgage $50,000.00 (05/01/2019)Total value of mortgage $69,665 (04/01/2029)$581 Monthly paymentsTotal Interest $19,693.96 C.5% interest 20 year term Mortgage $2250,000.00 (05/01/2019)Total value of mortgage $356,530 (04/01/2039)$1484 Monthly paymentsTotal Interest $131,530

., what would you recommend for a total newb like myself ?

There is more time invested but totally worth it for the increased cash flowHi - what bank did you get your lending from? 

I have a property management group in Hawaii that offers both STR and MTR services, but we don't mix for the reason that he mentioned - a single STR booking on an island can totally kill any ability to run MTR.

I had to put the two shared-bathroom kids in a hotel for a total of 7 days at the cost of $450. 

Obviously you may need to wait until their current lease ends unless they are month to month or unless the existing lease allows you to terminate it because of the sale. 2.