., the spread seems too thin.The 70/30 rule of thumb is good to keep in mind.Make sure that purchase price + repairs is no more than 70% of the ARV.Good luck!

@Tammy Vitale The stuff on top of the AC is dropped mortar from when they spread it back into the joints, excess falls.Also, I don't *think* they'd lie to me about it being new, but I do know that I told them about the AC units in the basement that they could use if they worked (AC units are not included in the lease).

The fact that they tried to hide it from you makes matters worse.At a glance, a $6k rehab sounds really low (most "typical" rehabs are $20-30k), and the spread between your purchase price and the ARV seems really tight - especially if you are uncertain about the rehab costs and the ARV.With regards to your questions:1.

That skinny of a spread between revenue minus expenses can quickly turn into a negative cash flow property. 

I guess I'm getting caught up on the math that takes place with the seller in your example of I have seen deals structured at X amount of money then the full amount is due after 5 years or even just x amount for 20 years etc at x% interest.And then looking at it from the vantage point of offering terms to my end buyer or tenant buyer that makes sense, leaves me a spread and understanding the "time of money" here, so I know how my money is being affected along the way. 

And we are all spread out in different areas.

The property needs a lot of work which I could spread out some and finish a bit at a time while working my day job. 

Also how can I share a spread sheet with you all?

It is a degree in Media Studies/ Communications.

That is much larger spread.