Hello,I am currently looking at two SFR as my first purchases in a seller-financing deal.I don't have that much $ as the private lender I was working with backed out.Approximate value of the properties: 100,000-120,0002 bed 1 baths. 1,080 sqftage of roofs Unknownexpenses: 575 - $702 583 - $793Taxes: 575 - $1,938.85 583 - $1,463.98Insurance: 575 - $302 583 - $240Lease Expiration 575 - June 30, 2020 and 583 - October 31, 2020Rent: 575 - $950 583 - $880Appraisals: unknownHow do I structure this?

Kitchen update, new roof, adding bedroom Lessons learned?

They are your boots on the ground.

I went in and replaced the roof and windows while also doing a gut cosmetic rehab on one of the units.

So if you have it insured for 70000 and to rebuild it is will cost 100000 you will be missing a roof and kitchen!

As long as you have boots on the ground and a clear game plan you are fine.

So in the worst case, I'm living for free.Other variables: It's a 1-acre lot that's zoned for multi-family and has enough leftover space that I could use someday for a triplex or just divide it and sell.New roof in 2019, new hot water heater and HVAC within the last 3 years.The utilities are combined so I'd either have to include it in the rent or work out another solution.I think I can get it at $120,000 with either 15% down on an investor loan or 5% down on a conventional mortgage.Taxes: $950Insurance: $1200I would manage it myself for now.In my various scenarios, I either run $1000 a year for expenses for living in the main house and renting out the MIL suite or up to $3000 a year in expenses for the student rental scenario.

All under the roof you own. 

Seller paid all closing costs, repairs, and new roof on building.

Instead of 5 separate houses with 5 roofs to maintain, etc, you only worry about one roof over everyone.