-Cap Ex budget -$ 200 a monthly What am I missing and am I the only one thinking this deal is a steal? 

He's wasting your time....possibly trying to steal your deal.

This is a steal.

If this person is willing to essentially steal and lie they may vandalize or damage the property.

Rather than allow it to keep me down by paying down as a short term revolving debt, my  wife and I are basically considering it "re-buying" the house I bought with my ex wife in 2009 for a collective number that would be a steal today and considering the collective divorce debt as a 'business loss' from my past that I'm paying with the deal I bought the house for. 

When I first started doing lending in Detroit.. this was an issue ... my client a big time flipper rehabber always had retired cops there with a clip board to check in the workers.. it was determined early on that much of the theft came from the exact guys that put the stuff in during the day.. they had the codes they knew what was there they would come in at night and steal it .the day cop and clip board put that to bed.So I agree with @Bryan Bannach  hire a retired policemen have him there during construction hours its the cost of owing property in the hood.. nothing unique about this.or just sell the property and buy something else.. but I think your looking to assemble so I know you probably don't want to sell.so just as stated hire security and I really like the idea of the @Patrick Liska  Cinder block fence I would for sure do that.. then put broken bottles in the concrete on top..

I am stealing and writing it down.

@Chris BurnettThanks, this seems to be a steal for  a month.

I am sure 99% of people on BP are ethical - however, you never know and someone can swoop the deal from right under your nose.2) I think $160,000 is personally a little bit high for that property.3) Alot of the basements in Allentown built in that period are not ideal for another unit.You may be to fix it to add additional square footage; but not another unit.Thank you so much for the feedback, not too worried about anyone stealing the deal as it's through a family friend.

The proverb of old says "Whoever walks in integrity walks securely, but he who makes his ways crooked will be found out", it is as applicable today as it was thousands of years ago.I think Brian is correct, the reason many get in trouble because they read all of the misinformation on the web, there are some yea-sayers out-there (even here on BP, but most of the times they get corrected) who will tell you "yes, you can do this" and lead others into trouble.