There is also another interested buyer and from what I hear they're struggling with financing as well.Here are the numbers (these are my own calculations, not pro-forma):Asking price for both: $800kActual rent total: $7,700/moActual taxes: $5,585/yrEstimated CAP (10% vacancy, 5% repairs): 8.16%Now here is the current situation with financing:- Asking price for each triplex is $400k, seller is very motivated- If I was to buy this, I would want to buy both buildings for several reasons, but the main being that they're attached, so it gives me a lot more control in the future regarding updating the property, or even improving these lots (which may be an attractive option if the city improves the waterfront nearby), or even selling them to a developer later.- Conventional financing requires 25% downpayment on a triplex, regardless if it's investment or primary residence- My savings are barely enough for the 25% downpayment for both, and I won't have funds left for closing + 6 month reserves- I do not currently own a primary residence, but with rents added on would not qualify for MassHousing- All units are occupied, all tenants are TAW, so in theory I could tell one to move and occupy a unit for half-a-year to qualify for primary residence benefits (I spend 90% of my time at work anyway) (is FHA a good option for one?

I think you should get some comps - if applicable for this commercial property, and try to locate some of the pro formas.

We have found that when you form a plan where paying off your car or putting x amount into a savings account monrhly is actually a step towards purchasing the next home, it feels more like you are already working towards something rather than waiting for it to happen.  

I would just like to form a solid foundation right out of the gate. 

If need be take your deal (all information - pro forma, noi, and etc.) to a local broker in that area that is under their own roof (if they're in their own building chances are that they know what they're doing and know how to survive) or two.

1317 w 92nd la ca pro forma is 7cap.  

Pro-forma 2% vacancy and rent growth at 4 to 5% each year which is BS long term.

Purchase Price: $159,900.00 Purchase Closing Costs: $2,000.00 Estimated Repairs: $5,000.00 Total Project Cost: $166,900.00 After Repair Value: $159,900.00 Down Payment: $31,980.00 Loan Amount: $127,920.00 Loan Points: $0.00 Loan Fees: Amortized Over: 30 years Loan Interest Rate: 5.000% Monthly P&I: $686.70 Total Cash NeededBy Borrower: $38,980.00 Monthly Income: $1,900.00 Monthly Expenses: $1,663.04 Monthly Cashflow: $236.96 Pro Forma Cap Rate: 6.64% NOI: $11,084.00 Total Cash Needed: $38,980.00 Cash on Cash ROI: 7.29% Purchase Cap Rate: 6.93% ExpensesIncome50% Rule Total operating expenses: $976.33 Mortgage expenses: $686.70 Vacancy: $133.00 Repairs: $190.00 Electricity: $75.00 Water: $125.00 Sewage: $210.00 Garbage: $75.00 Insurance: $60.00 P&I: $686.70 Property Taxes: $108.33 Financial Info Income-Expense Ratio (2% Rule): 1.14% Total Initial Equity: $31,980.00 Gross Rent Multiplier: 7.01 Debt Coverage Ratio: 1.35 Analysis Over Time Hide Assumptions Typical Cap Rate /year Expense Increase /year Income Increase /year Property Value Increase Year 1 Year 2 Year 3 Year 4 Year 10 Year 20 Year 30 Total Annual Income $22,800.00 $22,800.00 $22,800.00 $22,800.00 $22,800.00 $22,800.00 $22,800.00 Total Annual Expenses Operating Expenses Mortgage Payment $19,956.43 $11,716.00 $8,240.43 $19,956.43 $11,716.00 $8,240.43 $19,956.43 $11,716.00 $8,240.43 $19,956.43 $11,716.00 $8,240.43 $19,956.43 $11,716.00 $8,240.43 $19,956.43 $11,716.00 $8,240.43 $11,716.00 $11,716.00 — Total Annual Cashflow $2,843.57 $2,843.57 $2,843.57 $2,843.57 $2,843.57 $2,843.57 $11,084.00 Cash on Cash ROI 7.29% 7.29% 7.29% 7.29% 7.29% 7.29% 28.44% Property Value $159,900.00 $159,900.00 $159,900.00 $159,900.00 $159,900.00 $159,900.00 $159,900.00 Equity $33,867.29 $35,851.13 $37,936.47 $40,128.51 $55,847.23 $95,156.79 $159,900.00 Loan Balance $126,032.71 $124,048.87 $121,963.53 $119,771.49 $104,052.77 $64,743.21 — Income, Expenses and Cashflow IncomeExpensesCash FlowLoan Balance, Value and Equity EquityLoan PayoffProperty Value Edit Report Download PDF Report (Pro Only) Upload a company logo

The problem with the zestimate is that it takes in account the history of sales form a very large time period so usually the numbers are quite a bit off.

As far as mold goes, check for stale/cold air returns that use the joist cavities as a duct instead of an actual steel duct, that's where most mold will tend to form, as wood is a carbon based material.