Other than that I don't see any major changes.

If that is the end game and you and the property will be able to qualify for the loan in a year then you probably can start there.I suppose the one major exception to that is if the property is in bad enough shape that it won't qualify for conventional and you need to start with a rehab type loan.

The area has about a 3% vacancy rate, is within a few miles of a major university, and is generally in a location that is up and coming.

Also, are there certain negotiation tactics that could be utilized when coming up with a purchase price?

I personally never mess with electrical panels, roofs, heating and cooling or major plumbing.

Any major crimes would be on the net.Go to the police station to look at complaints and occurences, should be a manual when you walk in to the front desk.

Hi Arthr - I just did some major renovations to an upper flat and rented it out.I did not show the before pictures.

Disadvantage, it will be my first home that I OWN..The meat - 3 family - 2462 SF - Purchase price $300,000 (in discussion w/owner)Unit 1- 3bdrm plus art gallery - $1400/MoUnit 2 - 2bd - $1100/MoUnit 3 - 1bd - $900/MoTotal (conservative rents) = $3400/MoProperty is recently vacant, in decent shape (out-dated) nothing major needed ASAP, I would look to do minor cosmetic upgrades to be a "higher standard" rental unit at competitive market rate.2nd Property - Single Family 3,000 SF 5 bdrms - 2 kitchens (possible multi conversion) - Purchase Price $280,000 (in discussion w/owner)Quiet Dead end street in nice neighborhood, large backyard w/greenhouse-ARV - $425-$450,000Assessed $440,000..Initial walk through property needs new roof, and may have mold issue.

Major state battle over what to do with all of our extra money!

I have seen notes called because of a sub-2 transaction but even that is very rare and again, that was just the trigger getting the lender's attention but was not the major reason they called the note.