It's a great value add because its a mom n pop with no systems in place, below market rates, and a little room for expansion - maybe more.

It’ll cap a seven-year stay for the musician, who used the house to “Rock n Roll All Nite.”

N/A How did you add value to the deal?

Rehab needed: 40-50KGutted, so conventional financing and sale is limited/out due to no water, etcSeller is insisting on 110K, willing to carry the note*not fully sure on financial side of things, free n clear or mortgage. 

@Tucker Cummings We have a meetup in N Raleigh, usually on the 2nd Wednesday of each month. 

For me, I prefer buy n holds.

Fropm broker perspective, ASK FOR PRICE ADJUST UNLESS ITS A DEAL STOPPER:1) Seller quality and buyer quality of repairs are two different things2) Seller motivated more by paying less for repairs than quality of the repairs3) Back-n-forth on repairs can eat up a lot of time4) Sometimes warranties follow the person that paid for them and not the property5) Sometimes sellers "forget" to pay a contractor = Potential mechanic's lien 

Along with doing work for others, I’d like to be able to do some fix n flips within this LLC using company resources to buy, renovate and flip the property... does this make sense?

Current rents per month: $1700/month and $1800/monthFair market rents per month: Same as aboveDown payment or equity: N/aSource of down payment funds, if applicable: N/aIncome Source: Hourly W2Gross monthly income (optional): $12-13kMonthly debt obligations appearing on credit report, plus (if applicable) personal rent and alimony/child support/etc: $600-700/monthFICO: 700+Credit issues: NoneAdditional details: I would like a cash out refinance of 80% LTV so I can owner occupy the property. 

Is what it is, N Mpls property with bad tenant history, non performing tenant in place with perpetual eviction moratorium in place, yeah correct price would hurt.