So I'll first lay out the basics of the deal... and then pose my quandary..... that felt like an elegant sentence lol. 2 unit building near major medical/college campus'Last 5 sales on street for similar properties- 350k, 350k, 450k, 405k, 505kARV- we'll say 400kSeller Finance TermsTerm Length-5 years, with option to extend 2 more years at 2% higher, 1st yr int onlyPurchase- 235kDown Payment- 15kNeeds: 85k in rehab-mostly exterior and some cosmetic insideTenants currently pay $950(two bed 1 bath) and $740(two beds one bath)-- The owner doesn't use 3 bed rooms upstairs-- he used them for storage.

FYI, a 5 bedroom home command about $2375 a month.

I am house hacking it (renting out two of the bed rooms).

house hacking may not work for us due to need for at least 4 bedrooms.  

About two weeks ago I found a leak in the roof of the rental and it has caused some pretty serious damage to the wall in one of the bedrooms.

You can insulate floors, bathroom & bed room walls for noise but its not required.IRC - International building code for one and two family dwellings.

most people will look at square footage, number of bedrooms, cap rate, any necessary repairs, and of course the biggest factor location.

I will double check the taxes.

The farm came with a 2 bedroom apartment in the shop. 

Originally we thought they were just the debt collector but they served him papers for a judicial forclosure claiming he owed them almost double what was remaining on his principal due to back taxes and home insurance payments that I highly doubt they have been paying.