If I do end up purchasing a duplex for 299k, I would be living in one for about a year and rent out the other at 1300/month, In which I would still be paying out of pocket for the mortgage (est. 2122/month as per zillow) not including the other expense.

I'd contact the finance entity who holds the mortgage, and buy it from em! 

Following is the income for all the unitsRentsNew Rents Expenses Unit 1: 1800 sqft $ 975.00 $ 1600Insurance $ 6,000.00 Unit 2: 1100 sqft $ 900.00 $ 1100Taxes $ 2,728.00 Unit 3:  1100 sqft $ 925.00 $ 1050Sewer Charges $ 4,800.00 Unit 4(Apartment): 700 sqft $ 700.00 $ 850Vacancy $ 4,000.00 Total $ 3,600.00 $ 4,600.00 Repairs $ 2,000.00 Yearly Revenue $ 43,200.00 $ 55,200.00 Total $ 19,528.00 Mortgage Interest Only/m$1,460.00$1,460.00Mortgage Interest Only/y$17,520.00$17,520.00Current Income Projected Income Net Operating In $ 23,672.00 $ 35,672.00 Cap Rate4.30%6.49%Cash Flow With Int Only $ 6,152.00 $ 18,152.00 Cash invested $200,000.00$200,000.00COC3.08%9.08%What are your thoughts on this deal?

When you wholesale and in general the key to being a great real estate investor is being able to find great deals and distressed properties is where to look: financial dirstress being in preforeclosure or underwater on their mortgage, personal distress death in family, loss of a job, or divorce, or poor property condition.

My cold caller identified this lead and I wanted to see if I could come up with a creative finance solution in addition to an all cash offer in order to give the seller options.Location: Fresno, CABuilt 20104bd, 2 bth, 1600 sqftARV= $415kTheir current asking price for an all cash offer= $390k Their mortgage balance ~120k, interest rate is 4.51%Roof is original (14 yo), HVAC is new (replaced last year), no other updates or major repairs that he's stating.Situation:The husband states his family of 7 has outgrown their current home.

There is no mortgage on it.

:) and our mortgage will go from $2,800 to $1,300 per month! 

There are loans available for real estate investments, such as traditional bank loans, hard money loans, or private lenders.

@Christian Morsing you could make the private money lender taking the second position a minority partner in the deal?

There is simply no way to know if the private utilities are working - no matter who you ask at the government, no matter what any 'expert' says.