It is an off market deal, and when the owner sent me more details, one of the bullet points read: "The siding is asbestus but the house just got completely repainted and it is sealed."

The government agency sent in a lead inspector, who wrote a long report detailing where he found lead paint, and where he "assumes" there to be lead.

The details are: Purchase Price = $425,000Repairs Needed = $50,000Terms = Land Contract- 7.5% down at 6.25%-20 year am 5 year balloon.

Great, solid info with a blue collar work ethic undertone.https://jakeandgino.com/how-to-buy-your-first-twenty-five-unit-apartment-complex/https://jakeandgino.com/buying-your-first-multifamily/ - 25 podcasts that will get you started@Todd Dexheimer Pillars of Wealth Podcast and BP articles - Very detailed, hands on information

It was not an itemized list of deductions.

Here are some preliminary numbers I ran: 260K FHA no repairs and current rents on left, 300K 203K, reno and higher rents on right: % Down Payment 5.00% 5.00% Down Payment $13,000 $15,000 Remainder of closing costs $3,000.00 $3,000.00 Total Due at Signing $16,000 $18,000            Mortgage Rate 4.60% 4.60% Length of Mortgage in years 30 30 Monthly Mortgage payment $1,266.00 $1,461.00 Taxes $386.00 $445.00 Sewer and Water $50.00 $50.00 Trash $50.00 $50.00 Heat/Utilities $ - $ - PMI $ 180.00 $ 208.00 Cap Ex and Ops $200.00 $200.00 Insurance $65.00 $75.00 Mgmt Fee $165.00 $165.00 Vacancy $132.00 $132.00 Total Expenses $2,494.00 $2,786.00     Unit 1 $500.00 $700.00 Unit 2 $900.00 $1,100.00     Total Revenue $1,400.00 $1,800.00     Cashflow/month ($1,094.00) ($986.00) Cashflow/year ($13,128.00) ($11,832.00) Cash on Cash Return -8.42% -6.57% I have not talked with the seller in detail yet, as I want to see if this is worth a deeper dive first. 

Details of who is responsible for what. 

For some reason, I have the idea of putting together a detailed binder of my plan, markets I'm eyeing, different number projections and scenarios, etc. and understanding that binder backwards and forwards and pitching the plan to potential lenders.Is there some kind of 'checklist' of documents, figures, etc. that I can refer to in order to make sure I have everything on hand that I might need when addressing lenders' concerns and questions, in order to convince them on my plan?

Ok a little more details.

Also make sure everything is always in writing and very detailed so there are no questions if anything ends up in a dispute.