I have asked for these items to be fixed but seller could go with a good backup offer they say they have, which I don't doubt on the property.My down payment is $65k and it probably needs a solid $10k to start with.

I find that Firstbank, although a solid bank - I have a banking relationship there, is a tad conservative. 

A solid plan is a path my men can work on, but frequently changing your mind or holding up productivity because a lack of a decision burns up money.

Certain areas of Memphis are going to grow very strong within the next few years, helped in no small part by a ready supply of solid housing stock.

Students must live in campus approved housing for freshman and sophomore years, and junior and senior students with scholarships are also required to do so, however juniors and seniors without scholarships tell me they are anxious to live "off campus"Since apartment is one block from university, students can walk to campus, saving them parking permit fees.Additional income could be had by putting in coin laundry, soda/snack machines, and renting out storage units in basement as well as garage space.I have a friend that currently is the maintenance man for the entire university, and he is questioning students as to how much rent they are paying to live off campus currently.OPTIONS:  Rent furnished apartments to 4 students per two bedroom and two in basement unitRent furnished apartments to 4 students per two bedroom and create common area in basement for study/recreationRent all units unfurnishedOption to raise rents by including all furnishings, cable, wifi, cleaning service etc. with them simply paying rent and electric.FINANCINGtax value (not market value) 105,000Taxes $2,200 with no exemptionsProperty currently has a 30K mortgage left of a 55k loan previously taken out to "give first child his half"Owner, due to age is most interested in payments, and leaving remainder to 2nd child for "her half" Owner has expressed the following offer :30K to pay off current mortgage, and 250K to purchase an annuity that would pay $10K/year for his and his daughters lifetime.In its present state, I question whether the property is able to be financed FHA due to condition, though it is a solid building, the maintenance has been deferred.comps on property are practically non existent.MY SITUATION:I have perfect credit, and am about to flip a seasoned home with no mortgage and expect to clear approx. 70K.I am single, steady long term employment, and have no debt.I have a realtors license in inactive status, and have hands on experience with major property improvements.I am a "Dave Ramsey" girl, and debt makes me quiver...  :-)Note: Property is currently in a Life Estate Rev.

My goal is to help at least one person each day.Locating an attorney who only does real estate transactions can give you a solid investing team member to keep you within your state's real estate laws.May Your Efforts Be Rewarded!

(think well built home, pitched roof, double wide, solid foundation, ect).

Many have people that came from tangential industries and are posing as deal makers or solid underwriters.  

To be successful at wholesaling, you need a solid group of cash buyers you can count on picking up the contracts.

Putting 20% down starts you off with a solid base of equity to build on so you aren't leveraged to the hills.