Everyone says "Johns Hopkins area", but the Johns Hopkins area can mean both really nice or total warzone depending on the block.The 1% rule is relative, in Baltimore I would expect closer to 1.5% or 2% depending on the area and corresponding level of risk.

These programs are much more lenient and allow Alternative income streams to qualify such as: Liquid Asset calculations for incomeBusiness Bank DepositsPersonal Bank Deposits Expected Income New Employment income1099 IncomeCommissions & BonusesAccount ReceivablesNote Receivables Contracts for future incomeNew Rental IncomeExpected Rental Income from property planning to rentConsiderably different calculations on Tax returns 

To me, the idea of LLCs is business smart because it not only protects personal from business assets (as well as one asset from another), but really spells out the expectations in the operating agreement and, possibly, a subscription agreement if there are multiple investors.Feel free to reach out to me or members of my team if you want to learn more.

I would put in those number and call your bluff and offer you less then you were expecting.

@Surendra Chawla The question you need to be asking yourself is what kind of return you expect on your investment. 

How much of a down payment is typically expected when the owner finances, in terms of percentage?

@Mark WilliamsThe valuation of commercial asset (which your 24 unit building is) is driven by the NOI of the asset, the building class, the cap rate for that asset class in the area where the building is located and thit is very different from the purchase and sale of residential properties for which the value is determined by the price other people paid for similar properties.it is important to look at the P&L statement for the building you are looking to purchase and verify that it accounts for the expenses and income to work out the true NOI.The NOI divided by the cap rate and divided by the number of units would give you the price you should expect to pay.That price per unit will vary depending on the class of asset it is.Class A commands the highest price per unit and the lowest cap rateClass D commands the lowest price per unit and the highest cap rateNot the precise answer you were expecting but hope it helps.

Just as a few ideas of where you can look depending on your budget and cash flow expectations. 

Something I've learned from Brandon and Josh on the BP Podcast, is that it's only fair that I should be expected to provide value to you if I want education/ mentoring in return.

However I purchased the land for $65k and I wasn’t expecting another $30k just for the permits/plans to put down a gravel pad.