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%?

Unfortunately cap ex usually catches up to them and the appraised value rarely translates to a similar sale experience and all along the property has merely been a highly levered property.

All 3 cities show a 7-11% decrease in home sale counts over the 2017-2019 average, so we still have plenty of catching up to do in terms of housing supply - much harder to do when you're growing fast.Durham and Charlotte are set to make large strides toward that goal - but Raleigh is barely budging.

That style of learning and introduction to true industry catches my attention as having someone in the space that understands the space to bounce things off of and learn from seems to be the ideal way.I have through a handful of the webinars and follow up calls with different companies and they all basically pitch similar ideas and strategies.

are there any wierd catches?

I do feel that rents are probably going to catch up over the next 3 - 5 years.

The catch?

Syracuse has been lower priced entry than most of upstate, however we are catching up fast.

Occasionally through binoculars you may catch a glimpse of someone sitting on a porch, sipping a glass of mint julep, holding the glass with a white gloved hand with the pinky finger sticking up.

Good catch @Zorya Belanger!