Good luck with your adventure in the real estate business.Here are some Low Ball offersUnderstand how to do an APOD (Annual Property Operating Data sheet) and how to determine CAP rates - invaluable when deal in income properties.

I mean not only is it a gamble to not fix right away but it also tarnishes your reputation as well.

I've been into this for about a year trying to figure things out (loooong adventurous story there). 

This DOES NOT include repairs and maintenance, for which I would estimate $500/unit/yr and this is only an estimate.With all of that being said, I think its smart to buy a 1-4 unit building and live in the unit for your first adventure into REI.

I would not have taken action to get started in my current adventure of investing out of state without the encouragement and knowledge found in this community.

Please stay connected so we can follow your adventures

My Husband and I are definite newbies to this wonderful, exciting adventure.

You can buy this and lose $3k per month while hoping the market continues to rocket to the moon, but that's gambling.

I could do that In the stock market or go to Vegas and gamble.  

I have never purchased via seller finance before, but the seller is motivated to get her IRS issue cleaned up -- roughly $31K.I know this is a risky proposition on the $10K, but I think I am willing to gamble on this to give us enough time to work through pay-off arrangements with IRS if it is the best way to keep control of the property until we can get to clean title.