Agreed, last deal I had in Jersey city was lost due to really bad plumbing and electrical issues, on a older mixed use building. 

I would also talk to leasing brokers for this type of property to understand if there is real appetite from tenants for this type of building, as even if it doesn't directly impact your approach, it will give you some insights into how a potential buyer may be looking at it.

How did you find this deal and how did you negotiate it?

To be only exclusive to this agent when trying to find good deals? 

Hire a lawyer and consider a GOOD PM if you don't want to deal with tenants.

Try playing around with the “Find Deals” tool and go to the advanced settings tab.

For example, this deal does not seem to "fit" based on the 70% rule calculator which was new to us.3.Any suggestions on how we could negotiate better terms with either the bank or real estate agents?

What made you interested in investing in this type of deal?

@Abraham BerkowitzI suggest you focus on making money on this deal and not on reducing future hypothetical taxes. 95% of first-time flippers lose money on their first deal once everything is accounted for.

One common obstacle is dealing with higher interest rates compared to traditional financing, which can impact profit margins.