Here are some of the key stats:Purchase Price: $2.8MUnits: 100Unit Mix:50 3bed/2bath's @ $580/month50 2bed/2's @ $425/monthFinancing Approach:80% Bank20% 10% down payment10% seller financing @5% with a 5 year balloonConservative Annual Financials Financials:-15% vacancy-Rent potential: $618,000-Property Taxes: $30,000-Insurance: $21,000-Maintenance / Repairs: $60,000-Water / Utilities: $68,000-Advertising: $4,500-Property Management: $52,530 (management fee and employee salaries)-Garbage and Recycling: $15,000-Landscaping / Pest Control: $18,000-Security: $5,000In summary:-$525,300 gross income-$273,030 total expenses-$177,396 (5%) annual mortgageoFirst 5 years: Seller financing repayment on 10% of purchase price @ 5% interest rateOpportunities:-Sub metered, but water is covered by current owner (~$55k)-Increase rent on 2/2's to $485We would love to hear your thoughts on the good, the bad, and the things we haven't considered or simply answer any questions that you have.

I suppose the smart approach is to shut-up & get on with completing the mod-package asap so as to get the process started.

I would approach it as a math problem:1).

@Alec Saenz,Check the local government tax assesor's website to see if you can find out more information about the property, maybe even the owner's name.If you can get the owner information, you can take the approach of sending a handwritten letter asking the owner if he/she is willing to sell the house. 

How do you approach a house you’re going to live in.We are getting ready to bid on a property that instead of renting we are thinking about living in for a few year (5-7).It will be a rental till my husband retires form the military (2 yr) and then may become a rental if we move on.The house is in a good location.The neighborhood is older, but the homes are being revived.

While building a buyers list and calling bandit signs to cultivate a healthy list, should i already be marketing for potential sellers?

I'm totally torn between slowly building up a healthy chunk of liquid cash (for investing, emergencies, whatever) or gaining instant equity (and lots of it).

@Ryan Toth  my arrival to Charleston was quite by accident but it did not take a 2 by four to the head to figure out what was going on.I was first approached with doing 4  fix and flip short term loans.. form one of my very OLD time clients of 15 years..

Unfortunately, his health is deteriorating, and he can't complete the house.

But we've approached a wealthy friend who is very interested in being our bank to secure good lien deals.