My goal is to begin my real estate journey buy acquiring a multi-unit i can occupy and rent out to cover to the mortgage and hopefully create small cash flow. 

Initial cost is driven by home buyers making it too high and rent is rarely sufficient to cover expences.

At 5% interest, that would be $45K a year ($3750/mo) to the seller.Problem is, that $45K would only cover the interest on the $900K.

This will cover everything....

It is the absolute best book on the subject I have seen. 

There is about $50,000 in repairs that need to be done but he is including a $50,000 "gift certificate" to cover those repairs, which is pretty sweet.I definately know I can make a profit fromt his home when I put a buyer in it, but how can I convince him to go down below $1M?

@Megan AliceDetermining whether or not a property is a "good deal" is extremely subjective, because the definition of a good deal is going to differ from one person to the next.First and foremost, I would ask yourself what you're hoping to accomplish with this property purchase.

Regardless, even when I included insurance, the total expenses were about 33%, but I usually make my operating expenses at the industry average of 45% and that assures me I've got things covered. 

I’ve listened to many podcast episodes of BP, I’ve read just a handful of different books on the subject, and most recently started an online course to get my real estate license.

Per the other questions re: Repairs and market rent - Yes and Yes, but I may want to consider negotiating this portion so that I am covered further.