ARV $210k, PP 100k, repair 60k.

I think it will be more of a fix and rent as there will only be about $10-15k in equity after repairs but the going rent in the area for the purchase price is pretty stellar.

Does 50% of gross rent pay from just P&I and then $100/door...the other 50% going towards everything else, ie- maintenance, repairs, Homeowners Insurance, Taxes, Utilities???

I'll add that if they had a bad tenant that trashed a unit, that unit could have been a long vacancy, with a high repair bill on top of that - this gets quite expensive, and if this owner was not adequately capitalized ...

So let's assume that and add for any minor repair stuff.I looked at Zillow for a gauge. ($51K) I'm hoping to get some numbers from my realtor before I go look at it.I looked at rentometer.com Median rent: $1095 Average rent: $1128 (I don't know how good of a gauge this site is.

(if it's low, look into credit repair while you have the time)2.

I have a rental in a good area, after repairs I probably had about 60K in it and it originally rented for $950 a month.

The lender is stating the repairs need to be completed prior to close but the seller does not want to do this.

And big repairs on an ongoing basis.

Typically if they cover exterior maintenance the Master Insurance will cover the structure and exterior issues (Like if there is a storm and blows the roof off you won't make a claim or deal with the repairs personally).You would need something like the HO6 mentioned earlier.