I've lost friends and family to substance abuse so it seemed like an opportunity to do some good and make money in the process.I negotiated a sweet deal, and was prepared to buy it myself, but a few of my clients expressed interest and I ended up helping two of them form a partnership.

@Claude Diehl,You don't need a CPA or tax expert here; this is a straightforward transaction.

Zillow seems to think it should rent for $723 and Redfin says $670My real estate goal is primary for long term hold.

I spoke with Daniel E who seemed like a nice guy but as I learned more he told me there was a $1200 yearly fee to be a member.

A $240k loan amount on a $249k purchase price seems crazy and I'd never expect to produce any net positive cash flow doing this.How are you calculating your property taxes?

If so, do the suggested prices seem to be paying off?  

Seems like Azibo's banking offering is closing down this week.

Meetup and eventbrite seem to be the other platforms that people post them in.

Love the wise and the straightforward approach! 

Let's assume that the neighborhood is a C class and the median income of the city is greater than 3X of the market rent.Here are some of the considerations I've come up with so far:- Units are in need of renovation and capex is too high or not available- Unit quality is not the same as market - Seller is worried about losing tenants due to increase- Vacancy rates are high or filling units have been difficult- Rent increase would take multiple increases over multiple lease periods to get to market rate if seller is trying to retain the same tenant- Seller inherited property and just want to liquidate- Seller needs to liquidate quickly (financial burden, sickness, quick exit from land-lording)It seems like I might be missing a warning sign about a deal if they are selling with current rents that are under market; but again, this seems to be most of the properties I've underwritten.And in the same vein, what should I be worried about when purchasing a deal with under market rent with the intention of raising them after purchase.