Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

I can come up with only about a third of the required down payment. 

Just looking at their website,  there is no useful or helpful information that a sophisticated investor would normally require (to even give them a chance of being considered).

Unfortunately it’s an SEC requirement to be accredited for an investment filed under Rule 506(c) — which this investment is.

As for some of the others' comments, I think it absolutely does require your action for moving this tenant out.

Their strategy focused on targeting traveling nurses, a niche market with reliable demand.As for repeating the process in the same city, it's doable but requires careful planning.

They usually require experience and they are lots of docs needed from architect drawings to a lot of permitting. 

If you only have to resand the flooring and it's cheaper, maybe go with that instead,JC township will definitely require permits for plumbing, electrical, gas lines.

As far as capital, most investment loans would require you to do 20-25% on a SFH.

Of course if you are required to pay off the 2% mortgage then your cash on cash ROI goes way down, but with a 30% equity cushion you’re still way ahead.I really dislike contractor for deed, lease option, or not recording warranty deed as “solutions” for the due on sale clause.