I suspect your getting  a No money down owner finance becasue the owner knows exactly whats up.and is laying off it major cap ex on a couple of newer investorsI would make sure it you had to replace the roof and flat roofs are a bear I would think especially in snow country.. if you don't plan for it you could find yourself upside down.and thats a good though even though you dont have any personal exposure.. seems like it could be a major time suck.and for sure you dont want to refi out unless that thing is totally fixed then your putting your credit on the line and maybe PG's as well.sometimes no money down owner finance you will find that as i state are really not that great of deal your simply buying into major issues.

For me, Sanctuary would be an alternate destination for me to snow bird or live as an expat and then hopefully in a number of years, be able to use it as a destination location for tourist wanting to experience Belize for a week to a couple of months.

The snow is starting to fly here in the Northeast and I’m trapped in doors for the next 24 hours.With the free time I thought it a good chance to get reassurance that my current deal is a good one.I bought a 2 family about 15 years for $120k, remodeled it slowly and rented it steadily for 10 years.

This guy wants to hold the lot until spring so he can get a construction loan once all the snow has melted.

When the seller and I were going back and fourth I was totally going for more of the cashflow and acquiring the property with low to no money down during our negotiation...I also was thinking if I just snow balled and used the cashflow to get more properties that are also cash flowing I can easily just have the balloon payment 9 years from now..Thanks for your help guys! 

Just be sure to run the numbers, and especially up there factoring in snow and such maintenance in the winter.And would you be doing long-term or short-term rentals?

The price points are very attractive and I can fly to Chicago easily...Anyway, operating expenses can be maintenance and repairs, taxes, insurance, utilities, trash, snow removal, property management, landscaping, pest control, other office/accounting costs...pretty much any day to day expense of a business.

Once those are well funded, save the excess cash flow from your rental to accelerate your savings for that next investment and get ready for the snow ball.

As you know, Arizonans (especially those in the valley) love escaping the heat and visiting snow making the northern towns so popular! 

After the fifth or sixth property he was getting close to $1000 per month from me, even in the snow storm when other realtors were getting 000.