CapEx is included, but is considerably lower because it's a very new, excellent condition property (I considered things such as paint, appliances, flooring that would be needed while we still own the property).Purchase Price $350,000Purchase Closing Costs $1,300Total Project Cost $351,300ARV $350,000Down Payment $12,250Loan Amount $337,750Amortized for 30 yearsLoan Interest Rate 4.6%Monthly P&I $1,731.46Total Cash Needed $13,550.002% Rule 0.85%Initial Equity $12,250Monthly Income ($1500 per unit) $3,000 Monthly Expenses (Including CapEx) $2,607 Monthly Cashflow $392 Pro Forma Cap 7.28% Total Cash Needed $13,550.00Cash on Cash ROI 34.73% Purchase Cap Rate 7.28%Est Vacancy $150PMI $200Est CapEx $63Insurance $80P&I $1,731.46My only major concern is that I'm not meeting the 2% rule (and just short of 1%, even), but this is probably the closest property I've seen, and has a significant cash on cash ROI.

Nice to meet you all by the way :).  

I would love to meet others interested in a mutually beneficial professional partnership.

You are required to if the candidate meets all your other screening criteria. 

Just launched in November have 10 members, meet bi-weekly via a Virtual Call (Zoom), shared FB group and shared google drive docs where we keep each other accountable and provide constructive criticism.

My suggestion would be attend all the meet-ups you can, meet people face to face, be eager to learn and help in whatever ways you can. 

However, there is junk everywhere and she told us she would meet with us to give us the keys a few times and sign move-out paperwork but she has not shown up.

I have a couple of private investors however their lending ability combined would not meet the down payment requirement.The question I'm submitting to the forum is, how can I structure creative financing for this deal including the down payment?

I am from NJ and my local REIA meetings are over an hour or two away, and at the moment I don't have a car.

Hey Account Closed, congrats on snagging what could be an extremely powerful meeting and the source of many great connections to come!