There could be an option to use the BRRRR method and change it a little bit to fit your needs.

You will need 20% or even 25% down plus all loan and closing costs to make the loan happen.

Know the costs for fixing up the property and explore ways to pay, like bank loans, FHA loans, and local aid.

(Looks like the potential for unseen problems will sink this deal, so the cost of demo may not be relevant any more.)YES @scottmac100.

It may end up costing you more than you hope to save.If you want to finish the basement, hire a contractor for the job and pay them.

Loans from the FHA, online investment groups, middlemen, rent-to-buy deals, ready-to-rent homes, and borrowing from private lenders can cost less at the start, grow in value, and give you a steady flow of money.

Lots of headwinds facing real estate, like the following: Inflation Consumer Debt Lack of consumer liquidity-- renters don’t have first and last month’s rent, let alone a down payment to buyOwners interest-rate lockedOversupply of class A multifamilyStagnation of rent growth on assets aggressively underwritten at acquisition Maturation of term debt combined with stagnant rent growth against a backdrop of rising debt rates =investors unable to meet basic debt coverage service ratios on refinance Market normalization forcing operators and investors to rely on market fundamentals (recently) forsaken, while prioritizing expediency of deploying capitalInstitutional and local investors are both frozen by volatility and cost of capital and debtAll that being said, we feel good about B and C class assets we focus on and the markets we are in. let's connect soon 

Also run a few scenarios of costs and see how much over budget these repairs can go before you don’t think it would be a good deal anymore.

The cost of living is extremely low compared to other cities and you can still many many positive cash flowing and 1% deals here.

It would cost more to hire my attorney and go after the EDM so basically left it as is.