We first reached out to originators for Freddie and Fannie and were told that the deal looked great and we should be able to get the following terms:-Non recourse loan, 80% ltv-30 year amortization-10 year fixed rate-4.25-4.5% interest rate-Interest only payments for the first two yearsFreddie has since come back and passed on the deal due to our market being too small and the age of the property (1984).

https://www.forbes.com/pictures/emeg45egfdl/jay-z-...On forbes it mentions that he purchased under Brooklyn Projects LLC but signed deed under his legal name Shawn Carter.

I have an MBA and more debt even than the 50k Jason mentioned and wouldn't trade it for a minute.

I've found that it is zoned RT1 per this: https://www.stpaul.gov/departments/safety-inspecti...However, it doesn't seem to mention a triplex, especially if it's in a home in a residential neighborhood and not a small building.

Thanks, Joe.I mentioned in my comment to Wil above that my broker estimated rents at 650-700 so closer to the top end of the range.

We inherited a tenant who is month to month, but actually has 4 people in their unit as well (Mom and 3 Junior High/High School age kids).  

You don't need to mention pre-foreclosure.  

Age and condition?

I think I'm going to go with 2.5% as @Marissa Carroll mentioned.

@Austin Youmans Market 1So one of the RE markets is my hometown which I haven't been to in ages.