Fingers crossed, I should be OK after selling it and be ready for another opportunity, but we shall see.Lessons Learned:1) Fully understanding the financing of the deal and be liquid BEYOND money down/closing costs.

How did you finance this deal?

Previous business partner How did you finance this deal?

If not it will be hard to finance for your end buyer.   

You would get financing based on that info.I would start looking at SBA loans for something like this.

I can put down up to 100k, maybe even more and I can qualify for traditional financing.

All, My partner and I are in early in the process of buying a property with multiple, 13, duplexes on it. They are all under 6 years old. The owner wants to minimize the capital gains tax he pays so we want to suggest...

How did you finance this deal?

Plus the financing is almost always more expensive. 

Sales price: $900,000Seller finance: $400,000 / 2 year ballon / 7% interest rate / interest only monthly payment: $2,333 / no pre-payment feeEstimated monthly income: $9,300 / Annual: $111,600Electric separated - water $450 per monthProperty taxes: $16,700 (with property value assessed)Property Insurance: $6,300Renovation Repairs $150,000I anticipate the Re-fi appraisal to come in at a conservative $1,150,000.