Its listed at 75k- The seller is out of state and owns a large asphalt corporation.

If I find that is still unacceptable number, I'll then raise the rent of the existing tenants 3 to 4% across-the-board.

GA secretary of state corporations search - The company exists as BEFUNDED, LLC.

If you feel it is a good investment than try to negotiate to split the cost of a new roof(money off the price because it doesn't sound like it has to be dine anytime soon) because when you made the offer you did not know the roof was toward the end of it's existing lifetime.

(This means there are a zillion things that you don't even know exist, so you don't know to ask about them.)

Would everyone agree that 100% financing lenders just don't exist anymore?

My crystal ball says rates will be higher and therefore the opportunity to lock in a low rate for 20 years became more attractive.This loan is fully assumable at the existing rate and a nonrecourse loan.

If it's already zoned for the intended use then there is not much you can do as it was approved a long time ago.This happened to a subdivision here.The front was approved with the site plan a long time ago the developer just didn't build it.When the subdivision only sold out to 50% another investor bought the front entrance piece to put a strip center in.The city told the HOA there was nothing they could because the plan was already approved years ago the developer just waited to build on the land.So the key part to this is the new buyer are they building off of existing approved plans or does the parcel have mixed use and the investor is trying to maximize their return by building apartments??

You will need a 3rd party authorization letter if you can convince the seller to sell to you subject to the existing financing, but there is way more to consider on a transaction like this than just a letter.

Buy cash (not recommended), secure financing through a Commercial lender, get seller to carry financing, or buy subject too the existing mortgage.