The person who found the deal, future partner, found it off market, turnkey, under market rents.

The roof and attic are the best parts of the house, 0 problems.Main line, laundry line, kitchen line are actively leaking.

I am looking into the Richmond market for a rental property.

The example scenario would be if I bought a $1M property, the bank is in first position and covers 800k of the property cost, the seller agrees to cover cost of down payment and covers 200k of the property cost.Let's say we can no longer make payments on the property and it's foreclosed on.

Quality over speed saves time and money in the long run.

The seller wants to give a credit for repairs so we can close early but the closing costs are already covered.

In fact, some may actually require the LLC to be in place before they'll lend on the investment.

The house still appraised for over sale price but I was wondering if this could be used as a negotiation moment or am I SOL? 

I'm just looking forward to the future when I may wish to invest in a syndication through a Roth IRA.

The cherry on top is that one of the tenants is choosing not to renew as of 10/31.