Hi i am new to investing and im reaching out for help analyzing a deal im looking into, it would be my first deal if i don't count the home i live on and i would use down money from a heloc on my home... here's the details: its two separate houses, one is $32000  1800sq ft 4 bed 2 bath currently has a $550 rental income tenant and theyre both appraised at $39500. the other is being sold for $29995 its 1212 sq ft appraised at $39500 also and has a 475 rental income they are in a neighborhood were homes around it have sold for around $70000... i would maybe use a fha loan at around 5% interest and i would also get a heloc on my first home to cover the down money... they need basic interior renovations but have newer hvac and roofs any feedback is appreciated thanks

Happy to discuss with you in further detail anytime.

Details and images on link.

Patrick, can you share more details on the property? 

There are so many fees listed in the loan details...$200 here, $300 there.

(With the details that matched their rental application).

Thanks in advance for any detail you can provide.

Very detailed and insightful!

Price $20,000, $4,000 down, owner financed Closing $1,500 Est. Repairs $28,500 roughly $34k in ARV $85k Rent $875 Taxes $95 Insurance $75 Termite $50 Repairs $80 Cap. Ex. $100 ...

You're too far apart.However, if you guys are in roughly the same ball park, then you can start to figure out the details and the actual sales price.