On paper, this looks like 900k of costs with a profit of 2-300k allowing for commissions, fees, overrages.This is completely new to me and my first foray.

This means your total payments maid during the duration of the second loan will not equal the total amount owed.Doesn’t really seem like much of a bonus to me.

Literally just minutes ago got a wholesale deal in Kingston, NH texted to me, send me a BP message if interested!

That suggests to me that the Section 8 inspectors must find a violation(or three) to justify their jobs. 

Please feel free to reach out to me with any information, tips, experience,suggestions on books to read or anything else.

You're saying to markets are gyrating and somebody wants to sell this to me and I know more than everyone else so I'm going to stand here and buy it.

I press with legal to force the borrower to make a decision on 3 exits, once they choose the exit, It's up to me to handle exit and put us both in the best position. 1.

It doesn't make sense to me to spend $100k to get $1,000 in rent when I could rent each for $750 & get $1,500 for 2 in rent for $50k. 

It's seems to me like an old run-down area about to gentrify.

If anyone knows the Virginia market, this property is located in Petersburg, VA in case that influences your feedback.I have negotiated subject to and owner financing to purchase the deal using the following structure: I will pay $8k in cash I will take over the existing $59k mortgage payments (28 years left) of $506.70/mo PITI paymentsThe owner will wrap the remaining $8k into a second 15 year mortgage of principal only payments of $44.44/moTotal monthly payment $550/moThe Deed of Trust will transfer to me at closingI will sell the property via Owner Financing to a tenant buyer using the following structure: Purchase price $85kPay $10k downI will finance the remaining $75k for 10 years at 10% interestMonthly payments of $1000/moBuyer may cash out anytime after the first 5 yearsTenant buyer covers repair costsDeed of Trust transfers when tenant buyer cashes property outBasically this strategy is a way to get all my money invested out of the property and avoid typical rental property expenses to keep all of the cashflow.