I can definitely say that while the bigger fire we had was a pain... it actually worked out really well... in the end we had a much improved property, and we stepped in and did as much of the work we could do ourselves that the insurance company was compensating us at  'retail' rates for... like painting, and replacing cabinets, and other simple tasks.  

Purchase price: $155,400 Cash invested: $40,000 Property is located in Cuyler-Brownsville an historic district within walking distance of popular Metropolitan District of Savannah GA.I purchased the property to get started in the real estate space, however I value the walkability of the property, its proximity to parks and nightlife.Although the area is a rated roughly as a “C class” neighborhood.

Attend meetups and meet as many people in RE as you can.

If we hadn't moved forward and made the offer and went through the process, negative as it was, we wouldn't have met the people we have who ended up helping us more in the 2 hour meeting at the end than anyone else. 

Which means we will start to slow down in late July, and then enter the winter slow season in October.Assuming rates remain above six percent, I’m guessing the spring market will kick back up in February.

Property prices are relatively lower compared to major Canadian cities.Cons: Certain neighborhoods may have higher crime rates or lower demand for rentals.

We tried to get info on the lender to ask directly but they wouldn't give it to us.I would have thought this would be a relatively quick process to do a credit check, check debt to income, employer verification, etc.current loan's interest rate is very low so they definitely haven't refinanced anytime recently.Additionally, having never assumed a loan before, anything I should keep an eye out for that might cause a hiccup? 

Does he meet your minimum credit score requirement?

I want to pay them a preferred rate of return on their money without giving up equity in the deal. 

His current monthly Payment Breakdown:- Principal: $314.66- Interest (3.875% rate): $578.779- Escrow: $700.79-TOTAL monthly payment: $1,594.24Estimated rental income: $1.2k - $1.6k per month.Would love to somehow capitalize on the existing fixed rate, but at his current monthly payment and the estimated rent it doesn't seem like a great opportunity for cash flow.