SUMMARY> >>> >> 6400 SF Office Building> >>> >> 6400 SF Lot> >>> >> Built 1974> >>> >> Features, 5 private offices and meeting rooms,> >>> >> 4 restrooms, 2 with showers,> >>> >> commercial quality kitchen..perfect for> >>> >> architects or engineer or others> >>> >> Loan Matured February 2016> >>> >> Current Default Rate 18%> >>> >> Monthly Payment $5,501> >>> >> NOD's Filed in 2014 and 2017> >>> >> Comps at $1.8MM> >>> >> CURRENT UNPAID BALANCE> >>> >> $1,039,000 +3% fees to be paid by buyer

I forgot to add, the house can be converted to a single family house pretty easily. so it would be a 6/5 with 3 kitchens.

We have remodeled the kitchen, repainted and replaced flooring throughout.  

Kitchen and bathrooms could use a little sprucing up, as well as some cosmetic work throughout.  

He said that most of his work at that time from his kitchen table.  

In other words, if I opted to make large scale improvements to my other properties (new roof, kitchen, bathrooms, ect) would these expenses help offset the profits of the flip? 

I gutted the drywall, ripped out the kitchen, pulled up the carpet.

We stayed in touch with the owners over the months, and after meeting up a couple times and some negotiations we were under contract.I'll keep it simple to the details but let me know if you have any questions.4 bed - 3 bath - 3 car garage - SFHPurchase price: $160K1st Loan: $112,0002nd Loan carried by sellers: $49,000Down payment: $2,500Rehab Cost: $13,000Real Estate fees and closing cost: $8,900Basic list of repairs: carpet, vinyl tile floors, vinyl plank flooring, faucets, toilets, light fixtures, thermostat, interior paint, appliances, gutters, backsplashes, resurfaced counter in kitchen with an epoxy countertop, re-stained all cabinets throughout the house, added pulls to all cabinets, new kitchen sink & faucet - finished it off with some light staging for photos and to help it sell quicker!

I use Barnett (catalog/website) for most of my plumbing and kitchen needs (although now that they have been bought out by Home Depot their prices have increased somewhat).

I feel really bad the owner is going to foreclose and would hate for this property to slip thru our hands.Here are the details/numbers:4 Unit Multifamily Apartment Building in DCEach Unit has a living room, 1 bathroom, kitchen, dining area, 1 bedroom with back porch that can be converted into a 2nd larger bedroom (1bed/1bath w/ convert-able porch)Current owner has less than $80,000 remaining on loanMarket Rents in the neighborhood are about $1500 for a 2bed/1bath or $1100 for a 1bed/1bathTenants paying aprox $800-900 in rent (below market rent)A similar property was recently sold for $360k, immediately gutted and rented to Section8 where I'm pretty sure they are getting market rents and should be able to pay down property rather quickly.Please HELP!!