@Wade Wisner -  Most of the notes that we purchase we keep in our portfolio and borrow against them with private capital.

The only additional thing that needs to happen is make sure appraiser makes note of why the value increase in as is vs previous purchase price.

Second only to fixed costs of operation which disproportionately impact the lower cost properties often leased to subsidized tenants (also rarely represented correctly on spreadsheets pre-purchase).

I saw how that proposal is basically her giving me a 0% loan, but at the same time I believe that structure will avoid her taking a large loss (approximately 30k if she accepts a 300k offer).I do not know why she doesnt get a PM, I only share the facts of when she purchased it, the purchase price, and the reasoning she shared with my realtor as to why she is selling after such a short time period.

Sandra For transparency purposes, I believe you meant to say that you purchased a turnkey property from Memphis Investment Properties, not Memphis Invest. 

Using quality yet affordable materials can transform a space without excessive costs.I could remember working on a property an investor purchased.

Let's assume the financials in the package are good for a moment (they probably are not) AND that you either do not or do achieve the broker's pro forma:If you purchase this asset, achieve ONLY the 'current' NOI, grow NOI 2% per year, and exit at a 5% cap at the end of Year 6, you will have a 4.8% unlevered IRR. 

I found a house that I like to purchase in a great neighborhood and the exterior looks great for a 1922 stick built house.

Of course, it always depends on what your purchase price is and Dayton does have cheap homes! 

The first purchase is always a huge learning experience.