I am looking to buy my first Multi and the cap rates are halfway decent even with current market conditions.

I currently own a duplex that has proven to be a great investment; yet, it doesn’t hold up to the 50% rule.

Asking price is $699kAt 75% LTV in today's current rate scenario, this yields a negative cashflow.

Currently property management has it listed at $1450 and still struggling to get a renter in even during the summer season.

My thoughts are with the rehab the house needs I should get an appraisal on its current state.... buy him out with it current value then my sons and I would put in the work to rehab the place to turn into a rental.  

2) Meeting current tenants? 

I currently have $9,000.00 to work with.Thanks in advance for your insights!

Thanks for the reply Kate, our current properties are in Saint Louis, and we buy them mostly turnkey.

The deed is currently under Seller Z's name, though there is a purchasing agreement between us.

Hi all,I have recently established my land acquisition business with the goal to purchase parcels of land, either within data center opportunity zones or areas with the potential to allow for data center development, rezone the property with submitted plans, then sell to developers ‘shovel-ready’ within the various jurisdictions of the Commonwealth of Virginia.I understand there are multiple mechanisms that come into play including obtaining financing (partnering with an experienced investor), utilizing land-use attorneys, land surveying and engineering firms, appraisers, as well as approval from local planning commissions, board of supervisors, etc.Would there be any investors who are currently active in this niche?