Current expenses provided by seller:3000 tax3200 insurance6900 utilitiesI add in 3000 for repairs (5%) for current 8 units, 1644 for vacancy (5%), and 3288 property management for a grand total of 19729 operating expenses.

It isn’t all 🌽 and beans here, but there’s a thriving millennial market, aided by the population/demand of Drake University, Iowa State University, DMACC, Grand View, and Central College students, insurance market (one of the largest in nation, as seen in population of actuaries here, and Drake churns our pharmacists like no other due to their 6 year program), and the building of Facebook, Apple and Microsoft server centers around here due to nice tax breaks.

PS there is usually a mandatory mediation clause in those board of realtors Purchase and sale agreement at least in many of the markets I work.. that could be worth a shot... that will only cost you a few grand..

@Casey Mendelsohn look at western Colorado (Grand Junction, Montrose, etc).

@Mora Clark I invest in Holland, Grand Rapids and Kalamazoo if you are interested in doing anything in W Michigan we should talk :)

The cost of this will likely be several grand

In the grand scheme of things 4300 isnt a great deal of money, and if the deal (which you haven't disclosed) was properly vetted then you should be able to make up the money much faster then 7+ years. 

Correct me if I’m wrong but you probably paid 40-50k for the house plus 5ish grand for the rehab.

I know $1000 interest on a short term $5-10k loan sounds unscrupulous but in the grand scheme of things, is it worth $1000 for you to be able to get the project done?

I was wrong.The Rehab:My brain turned from “I’m an investor” to “I can totally paint an entire home to save two grand.”