You step in and offer them a creative finance solution that looks like this: (these are real numbers btw):Seller asking: $275,000 for 3/2 Single family split level, 1400 Sqft, with bonus room in basementYour Seller Finance terms as follows:Down payment: $20,000 cashSeller carry back financing amount: $255,000Terms: 5 or 7 year note with balloon @ 2.75% (or any negotiated terms here)Principal & interest: $867.61 per month (wow!) 

We've been owner-operators for the past 3 years in Jacksonville, FL, we've bought over 200 units and currently own and manage 51 units in Jacksonville.

Will you need to do anything to the unit to increase the rents to at or above market rents? 

I won every case at every level.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

I’ve attached some pictures for reference.Depending on what you are doing with the unit I don't see $40k in costs there.

https://www.har.com/content/department/newsroomHouston Real Estate Highlights in March, 2024:-Single-family home sales declined 7.5 percent year-over-year;-Days on Market (DOM) for single-family homes went from 62 to 55 days;-Total property sales were down 7.0 percent with 8,939 units sold;-Total dollar volume fell 5.6 percent to $3.5 billion;-The single-family median price rose 1.6 percent to $330,000;-The single-family average price rose 1.3 percent to $412,464; -Single-family home months of inventory registered a 3.5-months supply, up from 2.6 months a year earlier;-Townhome/condominium sales continued to decline, falling 6.7 percent, with the median price up 5.1 percent to $235,000 and the average price up 2.2 percent to $276,262.

@Raj Patel are you looking at 1-4 unit properties or 5+ properties? 

Why I Believe Striving to Build Passive Income is OverratedThis may seem like a disingenuous statement coming from a passive income guy, BUT, I believe that those looking to build sustainable look term wealth would be better off to downplay passive income.Passive income has a role, a large role, but one best utilized when a certain level of wealth has been achieved, and the holder of said wealth is looking to preserve capital and live off the income generated by passive investments.I hear many relatively new real estate investors say that their goal is to acquire enough real property to replace their earned (W-2 or 1099 or Sch C) income with the income be generated by their investments.  

On some of the units, the bottom layer of flooring had vinyl tile with traces of asbestos and in many of them the mastic had asbestos.