Working on a deal that the seller is open to carrying up to 10% of the down payment.

Let them know you're the new owner, that you will be abiding by the lease terms they currently have, give them your info to be able to make payments, any website/payment portal platform.I would keep it short and sweet.

Add to that when you put <20% down, you're going to have PMI on top of the regular mortgage payments.

Cash Payment: Paying cash for improvements is often the most economical way.

Even with a significant 50%-60% down payment seems like the purchase price would have to be in the 170-180K range, which is a tall ask for those areas in 2024.

Post Covid-19 years, we learned that balancing our rental portfolio was important in order to withstand rental payment shortcomings during difficult times.

You could have a $500/mo power bill and it will not be included in debt to income ratios, but a $300 solar payment will be considered for DTI. 

@Valentina ManzatiTo make a smart real estate investment, consider location, potential $20,000 down payment, and rental demand in Florida and North Carolina.

The seller will have reduced debt capacity because the existing note is still calculated as a debt - they MAY be able to include an offset equal to the buyer payments after a period of time, BUT often the seller is surprised to find they can not qualify to purchase another property3.

Members/Tenants pay weekly, so reaction time to payment problems is pretty quick.