Can a moderator delete this one in favor of my other one athttps://www.biggerpockets.com/forums/223/topics/716541-a-successful-barely-first-flip?

This is because Real Estate is taxed as passive income vs a small business that would be taxed at a much more favorable rate. 

Rents are currently 1 bed / 1 bath unit for - 1200, 3 bed / 1.5 bath for - 1700 and 3 bed / bath for - 1800.I offered, No money down, Interest only payments at 3.5% for 3 years. 5 year balloon option to buy.He says he currently will not able to do owner financing, but I think if it’s enough in his favor he will!

Seeking a small multi family that will require low-moderate rehab and cash flow nicely.After briefly researching online it appears to be a favorable market with decent population growth and 6% ave cap rate.

Seeking a small multi family that will require low-moderate rehab and cash flow nicely.After briefly researching online it appears to be a favorable market with decent population growth / ave cap rate.

You get favorable terms for financing and you get first hand experience of being a landlord and property manager.I hope your first deal goes great and look forward to seeing where your real estate journey takes you.

Since this was just a favor (I was not paid) he told me he would be willing to owner finance his duplex rather than traditional sale.

I would be more in favor of grandfathering those already in operation or a limited number of permits given even on a rotating basis.

The numbers she provided with the SBA 504 looked favorable and I could cash flow nicely right off the bat.

This allows you to pay for the value adds, make rent adjustments and decrease expenses in a favorable timeframe.