Ideally, my buyer would like to get in with as little money as possible.He has $5k to put down if needed.The seller mentioned possibly allowing us to do a "subject to" or take over his existing loan as he has good standings with the bank.Here is what I was contemplating, The buyer could put 5k down and carry his current mortgage payments and refi out to pay off... this would allow the seller to get his $119k he desired for allowing the seller financing...Any input would be great!

Good afternoon everyone,My dilemma: Contemplating Purchasing first 2-family home. 3br lower 2br upper Pros: - Location, in the heart of town- Tenant paying $1500 for 3br and wants to stay (been there four years)- Water heaters, Furnaces newer with separate meters for each unit- Natural Gas - 2 Car garage - Corner Lot- .24 acres- Based in rentometer.com 3br rent for $1700 on average and 2br $1550 on average for its location- 3BR has one and half baths- Laundry hookups both units - FHA Loan, less down payment- Owner occupied (id live on the top floor while renovating)- Foundation is solidCons:- 2BR needs a complete renovation to the studs- 3BR needs renovation but nothing right away (tenant is happy as of now)- Leak from fireplace/roof which is ongoing- Taxes are $4500- Price listed at 360k- Comps have sold around 330k, but don't have the garage or location- No cash flow until I were to be done renovating and buy another- Some plumbing neededI got a CAP Rate at around 8.5% with it being sold at 360.

Hello everyone. I purchased a 3 family property in Newark off Bloomfield Ave all cash. I went over budget, ran out of money and everything is complete except for kitchens and some work in bathrooms. I've been at this ...

You'll have to do some of this soul searching and contemplation on your own.Partners are a great means by which to get things started or spread out risk, but for me personally I want to own all of my properties in my own name free and clear.

@Avi Garg, One of the classic uses of the 1031 exchange ithe @Asher Anthes is contemplating s to sell a highly appreciated piece of real estate and buy several more leveraged properties.  

I am happy to assault here too.

Are you contemplating renting a room like the current owner?

Great question, I also have contemplated about buying acreage and setting up cabins or container homes. 

The only reason I am still contemplating buying this property is because multifamily apartment buildings have been FLYING off the shelf here.

(I don't care for Watermark at all)@Paul Birkett has a nice list of contemplations/things to know going into a trade.