He approached partner 2, a eager to learn newbie, to invest in a potential out of state flip with him.

Hey BP family, currently have a lead that’s wanting to do a package deal..never done this before, however is there a different approach on determining what to offer?

Not sure how to approach this.

Anyway, I'm just interested in how you would approach, or have approached, the above scenario.Thanks!

I wanted to get concrete as to what numbers I'm going to consider in my newest market, where small buy-and-hold MF are currently selling at around the 1% rule (a $200,000 duplex gets around $2000 in monthly rental income - these numbers have remained consistent over the past 18 months ever since I first studied this market).1% doesn't excite me much and I decided I'll buy starting at around 1.5% (they currently have some small duplexes approaching this number but they're small and aged) - I want a larger MF or at the very least a newer build duplex with more SQ.FT. so I'm getting good rent while minimizing expenses. 

Some data supports that my parent's generation (the baby boomers) are STAYING PUT as that generation is approaching retirement age.

If this is an investment property, it sounds like you're already approaching a high leverage point if it's worth $700k and you already owe $500k.

I've seen a few approaches lenders take with this.

Some providers take the approach that a furnace or water heater with several years of expected life shouldn't be replaced in the rehab, but that the final product should be priced accordingly. 

wholesaler approached me with it How did you finance this deal?