Or I was also looking for 400k house that I would be able to add value such as guest house or something else to cover the mortgage payment?

Let's rounded to $400/mo/unit to simplify the numbers.That is an income of $1600*12/yr from rent ~= $19,200Now, expenses:Maintenance: $9,600/yr (50% rule)Taxes: Around 1% ( lucky New Mexicans): $1,700/yrMortgage Payment ([email protected]%): $763/mo ~= $9,150/yrInsurance: Around $1,000/yrPossible Cashflow per Year: 19200 - 9600 - 1700 - 9150 - 1000 = (-$2,250)A negative cashflow does not look so good, but here are 2 opportunities to increment it:1) Increase rents.

You could take the property sub2 for what he owes if the 1500 cashflows at his current payment but he's not going to get 275 for it unless youand he are willing to write a note for a nominal amount now and the remainder in a ballon payment in 10 years.  

There are a lot of properties for sale - if you have the down payment, this should not be so difficult for you. 

He hasn't made any payments in over a year totaling between 20-30k behind.

My first owner financing deal, it's a duplex the owner owns free and clear no mortgage.I am wondering if I get a deed or title, (with receipt of my down payment,) or some sort of "lesser" title until I pay it off then I get the actual deed?

I'd recommend going big than going small (for you I'm guessing you are doing FHA or lower down payment as a hack).

Hello fellow BP fans,I'm looking for the least amount of down payment on a non-owner occupied 2-4 unit multi family.

Ogden's not scary, its amazing how it gets this label, ive never had an issue in ogden. in any city that you have a vacant property you have potential issues.

I can see the status of rehab/repair/payment/payout immediately anytime I want to.I can speak to the property manager everyday.