I actually bought a 4 unit a mile away for $45,000 last year but that needed about 30K worth of work so I feel this is about right as this one is turn key with no repairs needed.The seller financing deal - Sales price $63,500Cash at close from me $50004 year note @ 4% for remainder ($58,500), monthly payment of $1000 with balloon at the end, no prepayment penalties.Monthly projectionsIncome =     $2200Expense=    $220 management                     $220 CAPEX = No problems yet but "Unknown age" on the roof and owner has had property for 20 years                     $480 Insurance/taxes = Total taxes for 2017 were $4982 on assessed value of $78000 plus $600 a year for insurance

We bought it at a 7+ cap so sale price was essentially price adjusted for the assumption.I would run two scenarios get the actually yield maintenance $ amount and add it to the purchase price and see what your model looks like after placing new debt and what your model looks like if the lender will give you a supplemental.What's your exit strategy and timeline?

So buying without seeing the actual neighborhood would be a little bit concerning for me, but if you've got good people it shouldn't be an issue.This seems to be less of a concern when you get to the suburbs or whatever you want to call the areas outside of 465.

We actually own the land and building structure so we are responsible for all repairs.How hot is the rental market in that area?

Actual transfers of property are recorded in each county registry of deeds, normally the day of closing, or the day after. 

(PLEASE ACTUALLY READ THE ARTICLE BEFORE EXPRESSING AN OPINION ON IT!)

So this is actually my first post ever on Bigger Pockets.

I actually just had my first set of mailers sent out today.

I get not posting the actual address on Craigslist but overall it's kind of hard to market something if you're trying to keep it a secret. 

Of course, eventually it'd be nice to live off some passive income via real estate investments, but I actually love my job and am not concerned with needing to quit or put all my eggs into the RE investment basket right now.