I estimate the property to be around $220K in value, and want to pay my father out about $160K for it.Caveats:It is zoned as a single family residence, but there is technically 2 units (Front and Back.

I estimate the property to be around $220K in value, and want to pay my father out about $160K for it.Caveats: It is zoned as a single family residence, but there is technically 2 units (Front and Back.

Went by the house and estimated repairs to be about 26k.  

It is normally best to get the estimates first, find the old SD if you can, get your ducks in a row and then make contact with the sales agent.

Commercial lending is going to probably require 25% down and be higher interest, say 6% and we'll go with a 20 year amort, because there is little chance you get a 30 on this.

I could be wrong, but less chance of deferred maintenance issues due to gradual water leaks in bathrooms in upstairs townhome style.I agree that 5 caps aren’t the best area, but if it’s a 5 cap and two units aren’t rented, that provides some immediate increase to income with a relatively low capital outlay.

You have a better chance of preserving these appliances if they don't operate while submerged.  

The maintenance cost estimate does not even cover cleaning up after vacating.

Just click on estimate your taxes link when looking at a specific property and that should give you a pretty good idea of what property taxes are.

Larger multi family could be better, especially if you can fix something up and bring rents to market.I think most parameters are estimates, and are made to give some breathing room on the deals.