I wouldn't mind doing the HML for that option, and lining up other exit strategies just in case.

Where I'm located the housing stock is predominantly quads and smaller... and its almost all converted SFH that are 100+ years old to boot (translated = rotted sewer lines, knob & tube electric, lead paint, asbestos siding & pipe wrap)... all the things that say OPPORTUNITY... and I've been missing it for over a year!

You'll be paying at least 5-6% not the 2.5% you have on your sheet (unless you are an agent also and will only have to pay the buyers agent)Again...bottom line not enough details here...you chould make $35k or you could lose $15k with these number.

I learned to not be so friendly and more firm by drawing a line in the center.

Quadplex (Four x  2 bed/ 1 bath)Asking 170kOffer 155kRent per month: $1640 (market supports $1800-2000)I'll try my best to provide updates on my huge success (or major flop)!

It's something along those lines.

If you start drawing first without knowing what lines you can color in you may be wasting time / money.

I’d be cautious dealing in that type of property even if you had experience, a nice cash reserve as a safety net and a bank lined up which it doesn’t sound like you do.

I have mentioned this many times before but what do you think would happen to the auto industry if all vehicles had to be paid for in cash like many foreign countries.. that's why there are so few cars in many of those countries.. and what would happen to private aviation where light aircraft enjoy 90% financing for 20 years at 4 to 6% interest and there are tax benefits but they start at 400 k  and light jets that start at 3 million or light turbo props at 2 million.. yet hundreds of these are sold each year .. all because of credit.and just like commercial airliners many are leased and those leasing companies are buy 50 million dollar or 100 million dollar planes with credit not cash then leasing them to the airline.s   bottom line credit freeze's we see what happened. 

I want to vet and qualify them  as well.Sometimes it's better for me to say NO to a passive investor or a direct buyer wanting to be my client if our goals do not line up.