She needs a little more passive income at 55 yrs old. 

This is a house I am looking to take over and move into with improving it in time.Seller owes 294, house is worth about that now.Seller had an interest only adjustable mtg on from 10 yrs ago, it converted to a fixed @6.45 %piti is app 2500 a month, seller is willing to pay 500 per month of it, i pay the 2k diff.I want to do a wrap mtg on this and cash him out for the balance owed in 5 yrs.Since we are at a point of the principal being paid down on this, I think I can make some decent damage on the balance over the time span.So what are the pros and cons on this, from my perspective and his?

I’ve had Geovera for 3 yrs and just got my renewal, wind only, and the premium jumped from $1560 to $2650 for the year.  

IRS (clears in 8-10 yrs of filing), property tax, personal?

The broker here has 30 yrs. commercial development experience and would be a great resource for your projects.

They will look for about 16% return and stay in for about 3-5 yrs.

But I also know that we won't have the money to pay to fill in the gap when we go to sell in 5 yrs.  

It's the Pittsburgh neighborhood and I've heard it's hard to sell because of poverty and especially after the market crashed some yrs agoa.

Hi,I'm new to these forums and found it when I was searching and researching the question I'm asking.I have always bought my rentals as forclosures or distressed properties and fixed them up myself and rented them (only 5 yrs experience)  This time a round I found a triplex that is all fixed up and fully rented. 

Not sure if you open to other options but there’s some lenders who offer a 30 yr fixed (20 to 30) yrs at 80% ltv and 6.75.