TERMS- Deal Type: Seller Finance- List Price: $580,000- Purchase Price: $780,000- Seller Carryback: $693,000- Total Entry: $100,000 Breakdown: Assignment: $13,000 Down: $87,000- PITI: $2,657 Breakdown: Principal & Interest:: $2,000 Taxes: $464Insurance: $193- Rent: $5,250 ($750-800 per unit)- Amortization Years: 28.88- Interest rate: 0%- HOA: NONE- Balloon: NONE- EMD: $5,500- COE: Feb 12, 2025- Occupancy: Occupied, Occupants staying post closing- Title company: PROPERTY DETAILS:MULIT-FAMILY7 Units - 2B/1B per unit- Living sqft: 5,200- Year Built: 1940- Age of Roof: 1- Age of HVAC: New- Age of Water heater: New- Condition of Electrical: Good working condition- Condition of Plumbing: Good working condition

It won't be 100% accurate, but it will be close enough.

I already have some equity in the property after doing a complete rehab but I don't want to diminish my returns selling it after one year, paying for commissions/closing costs.

I have worked with the closing team, renovation team, the property management team, and the customer service department.

Being close enough to hospitals and also the University is a good strategy, but would be happy to give you some more info on the local areas here.

This also begins YOUR title seasoning, so that when you're ready to take out a traditional mortgage, you can refinance and pay off the seller without a title seasoning issue. you can buy title insurance from the title company at closing. this is a good idea. 

It is always nice to live close to your rental properties (although not absolutely necessary), and as a military guy you are able to choose where you retire to.

If you get 1% to get an appointment / follow up call and close on 1 you are winning. 

I wouldn't touch Franklinton with a 10' pole on the existing inventory side. gravity 2 is being auctioned and sold by the developer the area didn't support office developer lost millions:https://www.bizjournals.com/columbus/news/2024/12/19/gravity...linden I agree on if you can get a good deal. super fast appreciation. small homes, close to downtown, you can look at year over year and it's going up fast but also fast to change. any urban adjacent neighborhood is going to be good. 

Since the previous owner is getting most of the proceeds does the closing attorney issue him a 1099S and then issue my company one for a much lower amount?