Where are based out of?

You could have a case based on misrepresentation if the seller, acting as an agent, falsely claimed the roof leak was fixed.

The good news is the bigger the loan, the more more open the banks to lend you a non recourse loan, that means you dont need a guarantor in the US, they will underwrite based only on the property cashflow.

Best guess of his reason for selling is that he bought it low and during covid, stuffed every unit and room with a tenant on a month to month basis and now wants to sell at the max price based on the comps of the area.

Regardless, you will likely be adjusting the expense base to reflect the tax reassessment (which you can obtain from the local county), insurance (from your insurance broker quote), property management fee, and usual repair/maintenance expenses/admin/advertising/contract services/utilities.

@Luke RentzI am going through it at the moment, but I am going through it as a lender.I have had our attorney send the demand letter based on item 18 of the mortgage:Transfer of the property or beneficial interest in borrowerAfter the 30 day demand we will file for foreclosure.

Based on that, the determining factors would be how much the appraisal would be right after close vs waiting 6 months and whether the interest rates would drop.  

Based on current rent not potential rent max price should be 900k to be able to cash flow property. 

Based on these circumstances, and also just in general, I'm wondering how investor-friendly agents out there approach sellers that have a home that is too overpriced for a fix-and-flip situation? 

-Taking 10% reserve for vacancy, PM, and Capex-5% for repairs -All other numbers are standard values based on my area.