Renovated house, repaired roof damage caused by a fallen tree limb, and repaired damage from previous owners.

Cap ex typically is around 10 but looks like you are doing some repairs. 

If you have $51000 to pay on the mortgage plus repairs, and give him something, you may be into this for 100% of its value.

Also he is going to put half the rents of both properties toward the purchase price and continue to handle all repairs until I purchase them.

Hello all,I've got a potential deal in the Northridge California (CA) area (San Fernando Valley) in Los Angeles.  I'm trying to run some numbers to see if I can get a deal that's worthwhile.  It's a 5 bed 3 bath home ...

How much are you saving for vacancy, capex, repairs, mangement fee, etc? 

FHA 3.5% Sales Price Cash After closing fees $305,000.00 $15,000.00 $430,000.00 $127,000.00 Monthly PITI Average 4 Bedroom Rent Realized Rent Savings 2.5 Years Repair Cost $2,500.00 $2,800.00 $9,000.00 $27,500.00 Total Money Invested (Repair Cost+Downpayment)-Rent Savings ROI: Gains from investment-Cost/Cost $33,500.00 280%

I’ll be glad to be of assistance, I’m short on capital currently.

This lease does not change the length of your lease term (month-to-month); it simply updates relevant matters now that I will be assisting you with your housing needs.

Wouldn't the landlords insurance pay for the repair and then sue the tenant for the grow?