Hello,Native Houstonian Newbie, trying to cut my teeth in small multifamilies while I'm young and expenses are low!

I would've heard much gnashing of teeth in my self storage community had that come about.

It is as rare as hens teeth and even if you found a deal like this it would be dangerous

Cut my teeth a little by upgrading everything, however it is a very solid cash flowing building with low maintenence now!

If a lender tells you the sponsor for instance that here is our boilerplate language and we will not agree to any changes whatsoever then it is good to know that going in.

I would like to complete this as efficient and effective as possible so please critique all the flaws in my plan.Find responsive realtor to assist with possible counter offer (I’ve learned I don’t enjoy the lack of formality with a dual agent.)If offer is accepted, create LLCContact firm to structure lease agreement which goes into effect, if and when I become the owner.Agree on terms and sign document with business owner (Aiming for 3-5 year lease or term equal to investor loan.)Armed with agreement, finish discussing financing process with local bank.Investor pitchLocate temporary storage for business if needed.Complete loan processClosing, etc.Other Details:Offer on property 150kAprx lease amount: 3kInitial offer made 32hrs ago through seller agent Cons:Not in the town in which I live.In slight distress.Finding a responsive realtor around here is like pulling teeth!

I am looking at putting an offer in on a 4plex unit in Wisconsin that has no yard whatsoever.

You will not owe any taxes. 2) There is no issue whatsoever on gifting you the money.

The seller is older and just stopped maintaining it, no updating whatsoever.

Gary Marker Well, you've been kicked in the teeth.