@Chad Robertson Have you run capex and repair budgets?

I'm seeing some cheaper condo conversions here in Austin and seems like they are praying on first-time home buyers with low budgets.

Depending on when that building was originally created, you may be forced to bring other aspects of the building up to code which can drastically change your budget.

Talk to them about your budget and goals and maybe they could help you look in the right areas.

@Jeremy Mattson the main red flag I see is the rehab budget of $85k.

My own Brokerage may cost me somewhere around $10k to $15k per year for all the services I will use as well budgets for Marketing.

So our options are: 1) Buy the place now, deal with the problem tenant, know we're losing at least 3-4 months of rent, and risk the unit being trashed by the time we can get into it, 2) Have the contract run until after the court date, let the current owner deal with the eviction, assess the condition of the unit and adjust price accordingly, and risk interest rates being higher when we finally lock in our mortgage rate, or 3) Walk away.I've already budgeted in some money for the lost rent and for renovating the unit after the tenant is out, but it still seems like an awful lot to deal with and a lot of uncertainties.

I have two potential issues that I am thinking about. (1) While definitely doable, money will be tighter than I would like and would likely play into renovation budget and potentially ARV. (2) The timing isn't great.

Plumbing is something to check out, most MF properties that old are going to have some backups in the sewer lines that will need remedying or replacement, so get some quotes and consider budgeting for that.

Budget appropriately, sell a good product.