I also like her credit score of 700+. 5000/monthIf you can get 2 months security or last month prepaid or a guarantor would sweeten the deal.

Structuring the price point a tinch higher, while including closing costs and prepaid fees, is a good way to minimize cash outlay required for the purchase.

@Andrew Curro- a FHA can be used to buy a 2plex  as long as you plan to live in one unit ....FHA cant  be used for a  true  investment  duplex.....many buyers  are  using  a  seller or realtor  credit ( aka  concession )  that  can be used to cover the  closing costs / loan fees / prepaid  taxes ins and interest ....if a buyer can locate a seller  willing to  provide a  credit - then the  3.5%  of the price  might be  possible to be the only funds  needed  (  excluding  fix up costs  and emergency  )  

XXXX Rentals, LLCa.Tenants of XXXXX have pre-paid rents and security deposits held by this entity.

Prepaid Expenses: You may need to prepay property taxes, homeowner's insurance, and mortgage insurance (if applicable) for a certain period.7.

. $8k is not too far off if you are factoring title, escrow, prepaids, taxes, and etc... 

You could even ask the owner if there are any warranties or prepaid replacement papers or guarantees.

Found out from the tenants in my unit that they have already pre paid gor their stay until the end of Dec

The buyer for closing costs, $400-$600, excluding any financing items, prepaid insurance, taxes, survey if desired.

Your lender will be your best source for information on origination fees, appraisal fees, mortgage points (if any), whether and how much you need to pay in pre-paid property taxes and insurance (your insurance agent should be able to quote how much your policy will be which you can give to your lender to get the most accurate number for this).