The idea is promising and I would suggest an area where growth is happening or attractive to the military population.  

Building constructed in 1980Present loan value appx $77k on a 15 yr note with 3.375% interestP&I pmt is appx $602NOI 2014 was $11489NOI 2013 was $5142      (spent around $4k on updates/remodeling)Appx $27k by my calculations of capital improvements needed in the next 5-10 years to increase the value of the property, properly maintain it, and keep it functionally up to date in order to attract higher quality tenants (located in a b grade area) (I'd rather have more invested to have higher quality tenants - have my own reasons for this line of thinking - willing to sacrifice a bit of profit to have good people)- Redo Kitchens- replace doors and all base trim/casing (more for my taste and would help the place rent out even quicker)- 2 escape windows installed for basement bedrooms- Concrete work needed on patios and near front of the house -- need to be done in the next yearProperty based on comps in the immediate area and a tight supply of decent duplexes here is $175-210k or so.  

That means you need to bring in over 200k profits yearly or 1 million net worth.

For example, if the deal is really weak you'll have to delete tiers and slide up the splits to deliver an attractive return.Your experience and investor relationships will also drive your decision on the structure.

A buyer can then assume the loan later after rates have risen and you'll make your property more attractive Vs competing properties in a higher interest rate environment.Create a short term and long term business plan for these assets and this should help guide your decision on which way to lean in financing the acquisition.

The least amount possible to attract another buyer. 

Just keep investing you'll make millions but don't stop when you do.

I wouldn't expect much in the way of appreciation in Wisco, but cash flow and equity are everywhere and at the moment that is what attracts me to that area.  

The more certainty this is going to close on the 91st day the more attractive the deal is.  

I would only agree to this if I was trying to attract a new tenant or preparing the property for sale.If she really wants it, I would suggest asking her to split the cost with you as she would gain a majority of the benefit while she occupies the property.