I ran into a potential purchase my good friend is selling me at 260k and valued at 360k.  

I'm okay with it not being positive cashflow immediately but, I am also trying to keep my monthly payments down as much as possible.The main reason I'm moving to NJ is because finding multi family units there is actually affordable to me, rather than NY which is out of reach for me at the moment.

Put yourself in the sellers shoes look at your offer and think, how easy is this offer going to be for me. At

I'll make a list of expenses I think I will encounter.Purchase - 65000Rent-  650Taxes monthly - 105Insurance monthly- 62Vacancy 5% - 32Repair 5% - 32Mortgage - 278All that puts me at 509 expenses versus 650 rent to be at 141 cash flow monthly.I have calculated the CoCR a couple different ways because I am certain that the house is rent ready now but I also figured it with some rehab expenses just in case I find something.141x12= 16921692/16000(down payment plus closing)= 10.5% CoCR1692/18000(down payment, closing, and 2k rehab) = 9.4%Like I said before 650 seems like the safe route for potential rent.

I also wonder if there are sellers out there that still sell on actuals and leave proverbial meat on the bone for the next guy. 

He took it off and since probing him about it a few weeks ago, HES STILL INTERESTED IN SELLING!!

I am a wholesaler in Charlotte, NC , I find properties primarily in Charlotte and I'm looking for cash buyers who don't want to spend all their time trying to look for great deals, I find them and always leave plenty of meat on the bone for you b/c my business only works when it's a win-win.Please PM me if you are interested in having me be a resource for YOU

You can message me at any time.  

I love numbers but I didn't want the numbers to confuse me at the same time.

Sure my contact info is in my bottom tag both phone and email feel free to contact me at any time!