Hey BP community!Derek Dillon here, a investor from Southampton NY. I am in the middle of trying to purchase a 2 family house located upstate NY. The method i am using is No money down: Owner financing. I need a contr...

Property has had $4000 for tenant make ready when I got it last year1 unit had new floors installed in the bathroom recently-around $1000Property is free and clear Asking Price $30,000No work needed and all 3 units are fully rentedMy lender rates are 5% interest rate and loan is to be paid back in 4 years. loan-$30,0004 year interest rate-$6,000total loan-$36,000Monthly Payment-$750Total Monthly Income-$1515$1515-85.00(insurance)-$30(grass)-$151(management fees)-$150(utilities)=$349 Cashflowis that a good deal or is it not worth the time and effort??

We have a long-term goal of converting dilapidated SFH's over to  solar powered modernised livable spaces.

Installment Contract/CFD/Seller-financing:  Not sure how that would affect their ability to qualify for the loan.  

I purchased the property for only $200,000 and figured I could not loose.Repairs included finishing the driveway with concrete, pouring a walkway to the front step, solving a crawl space water retention issue, installing new hardwood flooring, replace all "gold" fixtures with brushed nickel, interior and exterior painting, replacing the septic pump and replacing light fixtures. 

I need a good contractor, plumber, electrician, drafter, stucco repair, garage door sales/install, and a flooring company that sells engineered wood chevron pattern.

If not, I would not be installing a product that costs 10x more than formica.

Since I despise installing the Big Box 10 for $20 light kits, I try to find some interesting lights from these places. 

once you have them on board let them know that your bro-deal pricing is mandatoryyou can have quality carpet installed with high grade pad for $16/yardlot's of ways to improve the next one and make some real doughalohamike

Depending on your plans for the house, if you are demo-ing kitchen cabinets to install brand new once without changing the locations of plumbing and not changing the lay out, then it might be okay to do as long as it passes residential building codes.