The net sale price is the gross sale price less routine selling expenses such as broker's commission, title insurance (unless lender related), escrow/closing agent fees, recording fee, exchange fees, etc. 

Purchase Price$145,000Down Payment$29,000Loan Term30 YearsInterest Rate4.50%Principal & Interest Payment$588Closing Costs$5,000Gross Scheduled Income (GSI)$19,020Vacancy Rate8.00%Number of Units3Pro-forma Income Statement & Cash FlowGross Scheduled Income (GSI)$19,020Less Vacancy$1,522Total Actual Annual Income$17,498Other Income (Laundry, Late Fees, etc.)$0Gross Operating Income (GOI)$17,498Annual Opertating ExpensesElectricity$480Gas, Water & Sewage$1,200Landscaping$400Maintenance & Repair$1,800Property Insurance$1,800 Property Management$0 Real Estate Taxes$1,700Snow removal$1,000Total Operating Expenses$8,380Net Operating Income (NOI)$9,118Annual Debt Service (mortgage payments)$7,053Before Tax Cash Flows (BTCF)$2,065Key Operating RatiosCapitalization Rate6.29%Cash on Cash (COC)6.07%Gross Rent Mulitplier (GRM)7.62Net Income Mulitplier (NIM)15.90Debt  Coverage Ratio (DCR)1.29Expense Ratio (ER) Per Unit47.89%Price Per Unit$48,333 What do you guys think?

I’m itching to get started.I have been slacking off a bit lately, and I felt I needed to change my routine to get myself back on track.

I have a set 2 week on 2 week off schedule but this doesn't always work out.

That's why we're scheduling a consultation with Jerry Puckett. 

Would your father in law consider a 30 year payment schedule with the same 4%? 

Collect all of the relevant documents (the original lease, any notices given to the tenant, and the lease termination agreement), and schedule a consultation now, and determine the best course of action so you are ready to pull the trigger on November 1st. 

It would be a shame to restart that schedule and start those payments back at 60%+ interest. 

I have a number of friends & family that routinely fund my deals and I structure it the same way every time (thus far):2% origination fee, 8% annual interest.

The reality is this child may not be in school during the day, and the child may not be in a program if they are routinely making noise from 8-5pm.