Good evening BP world,I am looking to make some contacts, specifically RE agents and hands-on investors in the phoenix area, in order to start acquiring some value add SFH investment properties.

We are chasing add value apartment complexes of 32 units or more, priced between 3.2M - 4.8M, purchasing all cash while using SOFR or Fannie as contingencies, targeting a 6-8% cap upon entry and want to operate sub 5% for stabilization.

I have a contract on a house in Phoenix AZ with a value of $500,000 and a mortgage of $288,000 to be taken subto.

There was no requirement of primary residence of deceased to primary residence of child (farm Land is also exempt from reappraisal) to keep the prop 13 value.   

The appraiser is there to determine fair cash value.

I'm sure some people like to see a Forum comment and add discussion value, that way they are part of the discussion. 

There are plenty of websites that can give you a good idea of property values in your area.

On the surface, the deal seems appealing, but there's a catch: the asking price is $475,000, which is about 18% over the market value (based on comps and DealCheck estimates around $402,000).Details of the DealProperty: Duplex, 2,400 sq. ft., Purchase Price: $475,000 ($197.9/sq. ft.).Estimated Market Value: $402,000 ($168/sq. ft.).Financing Terms: 2% interest rate, with a 9-year balloon.Unit B Income: $2,049/month (Section 8 tenant through November 2025).Unit A Income Potential: Similar rent or higher; Section 8 cap for the area is $3,234/month.Monthly Loan Payment (P+I): $1,386.Cash Flow Breakdown (if both units are rented at $2,049/month):Gross Rent: $4,098/month.Vacancy (10%): $410/month.Operating Expenses (37.3%): $1,376/month.Net Cash Flow: $943/month.Key QuestionsWould you be comfortable paying an 18% premium for financing at 2%, especially in a market where current mortgage rates are closer to 7%?

You could have bought a house, or several, that would have doubled in value.

I would like Lawrence or areas that are starting to increase in value but not as high currently.