Sounds like an artery ruptured and the man would have bled out in a few minutes if it wasn’t for your quick action.

The duplex would have positive cash flow once we move out and rent both sides. 

Your right, don’t thin yourself out like a lot of other people do and leverage yourself into a position you could regret.

Pay a handy guy to ride with you and scout the property (just a thought) otherwise, the best use of your time will be to verify if your buying a first lien position, knowing your market well enough to know what your buying and what your exit is, and underwriting the prospective deal so you anticipate worse case.

All needed extensive renovations but did have some positive features such as newer roofs, furnaces, and solid structural integrity.

As long as you calculate positive cash flow with the higher interest rate, I would recommend choosing this option.

We do owner finance but only for mobiles that are attached to land so that you in effect are creating a first mortgage position tied to a title/deed. 

If I were in your position, I would sock away as much as humanly possible.

Goal for Q2 2019Because our model is broken down like an assembly line, and each position is highly leveraged on other positions, we discovered we need to make a leap of faith and triple the size of our organization.

If I deduct 2 years of expenses (taxes+insurance) of $24k from my 2 years rent I would pay of $78k, then I am as a positive $54k.