The Seller has the option to reject your items, accept your items and make repairs, or select which items they will complete. 

Doing general paint and carpet cleaning for this property along with some minor repairs, junk removal and fixed a couple small plumbing issues (mostly deferred maintenance).

Quote from @Stetson Oates: As a suggestion, when you refer to net cashflow, I would include maintenance, vacancy, and repairs. 

The biggest problem I see with seller financing is the cost of repairs (as well as holding, selling, etc.)

I obviously want to get the best tax benefits and write off the expenses for the house and repairs I have done.

For residential multifamily properties (1 - 4 units), can you use a home warranty to take care of the repair costs associated with rentals?

Current owner is willing to break even on the purchase price however, in my opinion I think he should consider 5 or 10k less then the purchase price considering the amount of repairs he neglected over the length of ownership.

Quote from @Pamela Rivas: Hi Natasha,Here are some key points to consider about setting up a Mexican corporation:Setup Costs: $1,500–$3,000 USDOngoing Costs: $1,000–$2,000 USD/year (accounting and tax filings)Benefits: Tax deductions for expenses like maintenance, repairs, and managementBest for: Multiple properties or income-generating investmentsWhile a corporation is ideal for managing multiple properties, it’s NOT required to obtain an RFC.

I just closed on one for that last week and it appraised.Under contract at 223k with seller paying 5k in closing.The property needs 20k in repairs. 

Quote from @Don Bessette: I have a 30 plus year tenant that can not keep up with maintaining their unit, it is filthy inside and in desperate need of renovation, all systems are in good repair and I respond very quickly when issues are brought to my attention.It is also well below market rent, and they struggle to pay the current rate.Looking for suggestions on how to gently proceed with the notification to move.