The seller sucked out all the cash flow and repaired next to nothing but when they go to sell they can't eat there cake too and want a premium price.This is a basic example of many sellers looking for a sucker buyer that is inexperienced and doesn't have proper representation that will get taken advantage of.The lender giving you a loan will look at DSCR ratios and cash flow etc. going in but will not account for near future repairs and could care less you make money as long as you service your debt tot he bank.

Don't worry about being uncomfortable or not knowing what to say, they can't eat you.

They can't have the cake and eat it too.

For the price of an Egg McMuffin and coffee you can usually get a lot of good information on what's going on in a HOA.

I think buying something outright is more risky because it is like having all of your eggs in one basket, using financing is having the banks eggs in there with a couple of your eggs. and with looking at macro economic factors inflation must pick up in the next few years making that cheap bank money payoff faster.

If you have not factored this into your estimates it can quickly eat into your profits.

OR, as my wisened Uncle (RIP, Rick), once told me - "You can't eat Equity, boy.

Waiting until you secure an end buyer will eat the clock up therefore having less time to close for your end buyer.

My point here, was don't count your eggs until they hatch.

This is personally why I do not like owning duplexes, tri's, or quads as I like controlling a whole development and the quality of tenants around there.Bas tenants are like a cancer that starts eating at your success and makes the quality tenants run away.