Generally (there are exceptions) what you give up in cashflow is offset by appreciation.

I currently own a 3 family and have exceptional credit so I hope they will consider private financing.Other than private financing, is there any other creative ideas to finance this property that someone could recommend?

Full recourse loans with no exceptions.

The current tenant is a bit irrelevant except for some vacant time and getting it ready to rent again.

Non payment would be an issue, except we just took ownership of the property 2 hours ago, and they have never been delinquent with us because they have never had to pay us.We asked our closing attorney today, and he said it's a simple 30 day notice, telling them their lease will not be renewed and they are expected to surrender the property.

Refer to Publication 523 for the complete eligibility requirements, limitations on the exclusion amount, and exceptions to the two-year rule.

I have actually done all of those things except the last one.

I lost my "cube job" almost four years ago - except for the lack of money (which IS a problem!)

Also, they often don't do city/county/utility searches for unrecorded liens, which can be 10's of $1,000's, and they will be exempted (exceptions) in title policy, and not covered.

Perhaps it's because I don't have tons of cash standing around, I don't want partners, and I don't completely trust the risk equation of larger more expensive Class A projects - these are the only kind of rentals I buy.Assuming you want a project and you can and will put in the elbow grease - If they are performing and in an okay location and in rentable shape with good bones, $6k - $7k income with value-add potential for $100k is a great deal.They should cash flow enough to pay for almost all repairs except for large capital, but then again you should be able to save for those out of cash flow, or refinance in a few years.If they are willing to hold the note for a couple of years, you could offer them a high interest rate if they finance the entire thing for two years, or maybe they can take %10 down.