I'd see about FHA, combined with closing cost/down payment assistance, either from programs or from the seller.

Situations in which my knowledge, experience, and expertise allowed me to reach a risk assessment quite different than what was commonly thought to exist.An example combining some of the above was a auto repair facility that was being sold in bankruptcy and had an environmental problem.

@Will RugeleyI am not sure how many properties you like to manage but if it is not a lot, you can totally manage by yourself using property management software or combination of accounting softwares, tenant screening, rent payment software.If you would not like to bother property management aspect of real estate investment, you can always look for property managers in your area.

This deal literally has every single one of the largest red flags possible, all combined into one.

@Brandon Cravens @Jack Martin - many thanks for the info. i'll check out the county's website.in terms of estimating property taxes, would that be a combination of mill rate, tax rate and assessed value?

Realistic Values for them all combined are $1.523M and we owe $1.203M in mortgages to one bank.

Realistic Values for them all combined are $1.523M and we owe $1.203M in mortgages to one bank.

I would not have put this in my business plan, but with the recent dip in interest rates combined with a suddenly lower insurance policy I saw the opportunity to pull some cash off the table without dramatically changing my PITI. 

The sellers combined monthly payment (duplex +personal loan) is $1300 and so if she carries the note, my payments need to be at least $1300 because remember, her whole point in selling is to not have to worry about her debt.

I prefer to keep each LLC with under $100,000 in combined equity across various properties.