@Daina Estime I've had my own brokerage for a couple of years, but just made a change. 

If repairs are more than initially estimated, renegotiate the purchase price accordingly.

@Terry LaoOne year ago, I had a chance to purchase several of these 4-plex at around $240k each.  

Come out to KREIA if you get a chance.

Having been to many of their events and knowing how this works from the back offices and so on and so forth.what I  see  is just like any other slice of life.. some get it will do good.. others no chance they don't have the personality they don't have the drive and commitment.And or they think by reading BP or paying for a mentor is all they need to all of a sudden be a real estate rock star.and at the end of the day.. most gravitate to what you see here on BP  they realize this is a uber tough business with a lot of rejection.. and they will do what it takes to buy rentals. that's why this is predominantly a landlord site.. its the easiest to understand and the easiest to implement.. not that everyone who gets into land lording is successful because many fail at it ..

That way, they just have to use short wood screws to hang stuff up, which reduces the chance that they don't use the right fasteners (like a drywall anchor), which leads to the wall getting beat up less and fewer things falling down.

It doesn't seem like enough to have the chance of pulling equity out or refi.

The plan is to pay $12k-$18k to acquire and have an estimated $5k-6k in rehab.  

Like others have said file an extension and pay an estimate of your taxes so you can eliminate or avoid a majority of late fees/interest.

Do you by chance know what percentage his disability rating is?