A quick overview of the property:The home was built in 1813, and looks to have some additions built throughout the yearsThe units are side by sideOil heatNo ACSeptic TankPublic WaterRental income of $2800 per month combinedOffer Price: $265K (based on expectations that the home will need all new windows and one new oil tank)We just had our home inspection today and learned that there are some framing issues in both the attic (supporting the roof) and the basement.

Equity in a property is actually buying cash flow which is not the same thing as a property that is generating positive cash flow.Investors trick themselves into believing they have positive cash flow by throwing cash at a investment.

There are 12 units I believe.

The market up here is and has been pretty hot, even with the oil price downturn.

Yes I believe TD Bank and Penn Fed both do it but the rates are higher than owner occupied so you'll have to live with that. 

I believe I have 3 solid exit strategies (thank you Josh and Brandon from BP).

I know this is just one of my goals in my Real Estate journey, but I believe it to be important.

I believe understanding your exact needs are imp, as Jennifer pointed out.

There is a saying that I believe is true....people sell and buy real estate with someone the know, love and trust. 

He believes the cost to do the flooring and paint and what-nots will be $15K, for a move in ready rehab.