Hi,I wanted to see if anyone can review the deal that I just got under agreement and give me some advice and thoughts on it.28 units25 currently rented1 master lease space for laundry room fit outAsking price was 1.6Under agreement for 1.5 with seller holding 100K interst only for 4 yrs. at prime +1 (8.25%)50K downRecent comps in the area support the 1.6 million, however I was told that appraisers will often use the agreement price for the appraisal number instead of the supporting comp numbers.

I am planning to remodel one bedroom 10' X 14'.

I'm a 20 year old college student so while i work on my degree at UM i want to buy a property (in Coral Gables hopefully) and rent out the extra bedrooms.

The counter tops are scratched and stained, old painted cubboards, old windows the upstairs bedrooms floors are painted and I have cheap carpet down stairs.

It's been difficult here this year except for 4 bedroom 2 bath houses rented to students.

Obviously I need to know the address, how many bedrooms, baths, if there is a hole in the roof the size of a car, etc.

Find the proper location where you can get the proper permits and approvals, and lease the space.

Convert a 2 bedroom into a 5 bedroom, 2 story house with a pool and the C-S index will just record it as a price jump.

There is more then enough space there to put any information that you want to share.Give it a try.

bumpdateSo I've looking around online and doing a bit of driving around and I'm starting to begin to narrow in on what I am looking for in a home.My apartment lease ends at the end of May and I think I want to have a home of my own by this time.I have not yet spoken to a lender about getting the money for a house, but I have enough to make a 10% downpayment on a home, I am looking to purchase something between $150-$200k for myself to live in for the next 3 years (up to 5) and then sell.I have been looking mostly at townhomes between 2-3 bedrooms, 2-3 baths, with appliances (stove, dishwasher, fridge).