Quote from @Jeffrey Bourque: ARV $350,000 - $400,000 3bd 1 bath 800sqft estimate rehab $70,000 purchase price $200,000What are your thoughts and should I do it? 

I currently own one property, and I’m planning to purchase another.

There are really great REI opportunities in different markets - markets in the Midwest and Southeast of the country are particularly lucrative - where not only are the purchase prices reasonable for most RE investors, but the homes are turnkey (new builds or completely rehabbed homes, tenant ready, systems 10 years of life remaining on them, property management teams in place) with appreciating home value AND appreciating rent.

I have purchased many properties without a tenant in place.

The best I've seen for STRs is 80LTV on purchase and 75LTV on cash outs. 

Asset sold was mainly transfer of client list and contracts.Does it make sense for me to seek out a note purchaser?

Sadly, I might have to wait until early 2025 for #5, as my funds have dwindled from purchasing 1-4.

This implies that if I had confidence of better than normal appreciation or ways to add value, I would purchase a negative cash flow property.  

I'm looking at monthly cost to seller vs. anticipated rental income, purchase price relevant to the ARV of the area and interest rate, balloon, etc.

Us: We want to buy the property, fix up the (3) apartments not occupied by her parents to generate rental income.QuestionsMy thoughts are to work out a deal where we purchase the property from her parents without taking a loan from bank.