Price is probably above market,  17k down finance 75k @ 3.8% 35 yr amortization.  3 year balloon.  

The residential syndicators that are most hurting are those that did not have favorable financing locked up for a potential later exit than planned.So there is sustained cap ex allocation, which is what i use and calculate, which is appropriate for long holds.  

The benefits to the seller including dumping a money pit that no one can get financing on, dumping a property that has a nasty lien or judgment against it, selling for more than the property is worth, dumping a property that is contested in probate, things like that.

If you can get a better deal on the home due to age its a fine and if you need financing banks do not judge year built. 

Instead of tying up your retirement funds, tapping into financing specifically designed for real estate investors can keep your portfolio diversified and your retirement intact.Leveraging your 401(k) is your personal decision, but framing it within the broader context of balancing risk, liquidity, and opportunity cost can clarify whether it’s the best tool for your goals.

Points I can roll into the cost and don't mind a buy down if necessary.My primary concern is the bleed rate monthly for the build, Airbnb stabilization and the year after while we season it and prep for final financing for long term hold.

I suspect the person who originally turned it into a fiveplex only applied for permits to make a fourplex and then did the 5th unit fly by night (perhaps at a later date) in order so the property would still be considered residential and allow for better financing possibilities.

look for land with owner financing And I am sure you know this but location and safety will be paramount in the Jackson market there are simply areas the crime is far to high for this to be successful..

I mean at that point why not just use a HELOC to finance closing costs?

Hi @Charles Fay it sounds like you are in a very good spot with finances.