Built in 1999.Purchase Price (conservatively): $194,900.Down Payment @ 20%: $38,980Financed Amount: $155,920 @ 6% (conservatively) over 30 yearsP&I Payment: $935/monthEXPENSESTaxes ($2,753/yr): $229/monthInsurance (estimated, need to get quote still at $2k/yr): $166/monthRepairs/Maintenance: $200/monthLawn/Groundskeeping: $100/monthVacancy Loss at 10% (conservative, $3,360/yr): $280/monthAdvertising: $16/monthMiscellaneous at $2k/yr: $166/monthTenants to pay utilities, minus trash (absorbed in miscellaneous)INCOMERents @ $700/month per unit: $2,800/month (Conservative)Rents @ $750/month per unit: $3,000/month (Likely)RULES / RATIOS at $2,800 / month.50% Rule: $2,800/month = $1,400 to expenses, $935 debt service, $465 cashflow = $116/month per door.

I'm just at a loss as to how to proceed after we make a deal as far as the combination of bank financing and seller financing.

Convenience comes at a price, and this price is loss of freedoms - we are seeing this play out everywhere.

I purchased it from a couple that were burnt out on landlording and sold at a loss to get out of it.

Those K-1's have profit or loss that goes onto the partners personal returns.

If insurance is required the security agreement will recite the matter and if in the body of any note, the insurance assigned should be at the option of the lender for the application of loss proceeds.

An inexperienced buyer's loss rate will be higher.

Is it at a potential loss?

And I am more cautious about buy and hold for a SFH since one vacant unit = 100% rent loss... but it sounds like you're doing well with yours, which is great!

Consider the potential loss of your time involved in any work you do on the home.