If you're doing a side deal and borrowing the funds for the down payment and then paying investors back, they're really going to frown upon it (they don't want any of the down payment to be borrowed, and will question any large deposits coming into your account).Also with a multi unit that I assume you'll be renting out, make sure you have cash reserves for the unexpected (evictions, damage, code changes, etc).Good luck!

It had a ton of water damage.  

But he pays on time and does not appear to cause any trouble.  

The loan officer said that could be the cause if the majority of the work is not done upfront, like getting all the documents up front.

Just wait until someone gets sick from the mold problem caused by a water leak that  you chose not to fix...

It can inflict damage on your unit. 

.- since he did not do the roof, there is now water damage from the leaky roof, to some of the new sheetrock and sub floor.Here is where we have gotten so far:**read a bunch of info on NOI, Pro forma, CAP, and looked at other delapated multi family buildings that have sold in the area. 

The water service has been shut off on the property due to freeze damage. 

if the missing appliances and damage happened after closing you may have an insurance claim.  

If the stairs are solid, the Landlord wouldn't normally be liable for damages.