Hi @Andre Osborn you can always use the BiggerPockets calculators via the website or if you're on the go, I use the DealCheck app on my phone for quick analysis.

Make sure you run your numbers right including ongoing repairs, insurance etc. 

So, with Brandon in mind, I told the owner that I probably couldn’t get a conventional loan because of the amount of repairs.

. $115k is a great start, but it will be eaten up quickly in 4-5 SFHs between down payment, repairs, closing, and entity creation.

All the other variables are repairable, Refi, raise rent, ect, but the pool can end up costing thousands!

I'll have my wife "write" the letter as I think that will be better received, and specify that we're looking to move closer to a certain location, the school district, etc, as well as that we'd pay fair market value and can take on repairs, etc.Opinions? 

I have their address however I need a phone number, email, or personal address (not their rental unit).

That quote seems reasonable but for a little more you could upgrade to more durable flooring that's water resistant and easy to repair. 

He wouldn’t answer his phone for 10 days when my agent was trying to contact him.  

Long Term Option would be the best bet since the repairs aren't really for a major value add Loan Amount 187k Rate 6.7% (Depending on credit score) Origination 1.5 to 3 points30 Years Amortized 3 to 5 year fixed