In looking for my first deal, I have a friend who has a property for sale for her recently deceased parent.  

In looking for my first deal, I have a friend who has a property for sale for her recently deceased parent.  

I could repair the old shed and leave it, but I'm considering donating the old shed and having a nice 10x12 shed built in the back corner of the yard ($1750) instead.The house is 940 square feet and the yard is 50 x 35.

This might be a bit  tricky for me because I live with my parents and most providers require the primary residence to be insured through them.

Both his parents are still alive.  

Unfortunately, I don't have any relatives that are able to lend me any money or cosign to help out - I come from a poor background and hate seeing my parent's lives reflected in my future.Do you have any suggestions for building up funds that I might be able to use over the next few months?

If so, this would be $3,200 in rental incomeExpenses Total $1320$174 per month real estate taxes$250 per month insurance probably thru national real estate insurance group$75 per month water$75 per month trash$160 per month allocated to the 5% vacancy$267 per month property manage fee$320 per month maintenance at $10% Operating expenses would be 43%Yearly net operating income would be $22,560Monthly cash flow would be $1880With no loan CCR is 36.68%List price is $325,000 but going to try to get it loweredNeed to do a loan though which really brings into question if this is a property to look at.I can make the 20% down payment with my funds (heloc loan at 4.75%) and a gift from my parents but this will be a loan thru an LLC so a commercial loan.  

One of my parent's townhomes in Palm Bay, a wood frame property, was recently re-quoted at $3,000 / year...yikes.ThanksChris

Also, was told to have parents co-sign all leases is a good idea.Is there anything more that someone has expierenced with student housing, or specialize in this niche? 

My first rental I once rented to a brother of a friend , he lost his job , he broke up with his girlfriend , etc , etc, luckily  for me his brother paid up for him and he moved out to stay with his parents .