Your success depends on your ability to find motivated sellers, YET you are using strategies with a less than 3% success rate to find motivated sellers.

You'd probably have to figure out how much of a down payment you'd like to receive upfront, how many years you'd like to spread out the loan, interest rate and payment amount. 

Other than speaking to locals, I cannot think of stuff that can be done in person and not online (schools, crime rate, employment opportunities, etc.)However, I am still a novice in all of this and was hoping to hear from those who have been there, done that. 

IRR and cap rate are great, but if you investing in Long Term SFH, they are irrelevant for initial acquisition.

I would instead have to pay all of those costs out of pocket.Now the only time I can see this working is if I have lots of extra capital to pay for all of the renovations out of pocket and then I could benefit and save on the holding costs since my loans interest rate would be much lower.

Is this too high or this is current normal rate?

It's in Philadelphia and I am assuming a 5% appreciation rate and 1.5% yearly rent increase.

If interest rates goes down, I can either refinance to get seller whole or sell for a small profit.Any other deal structure ideas?

New Bank Loan Traditional Subject To Take Over Existing Loan - has already been paid down some Purchase Price $400,000 $332,196 (Take over existing loan) Down 20% $80,000 $10,000 To Seller Loan Amt $320,000 $332,196 (Take over loan) New Loan Payment Rate 7.75% $2,293 $1,465 Take Over Payment Rate 3% Difference $828 Your Savings per month Other $0 $0 other Loan Origination Fees 2% $6,400 $6,400 Your Savings On Loan Fees Closing Costs $3,500 $3,500 Closing Costs Cost for length of Loan $825,307 $490,512 Your Cost for length of Loan $334,795 Your Savings over Life of the Loan Using Bank Cost to acquire $89,900 $13,500 Using Us Cost to acquire $76,400 Your Savings Just By Buying Using Subject To Total Savings $411,195 Your Savings Total w/Subject To

They lowered the price a couple times and then I offered another 6.9% below that and we have a deal.I suspect they have a mortgage at 3.6% based on when they last got financing and I REALLY would love that rate, so much that I'm open to re-doing the deal much closer to their most recent listing price if I can get the house subject-to the existing mortgage and give them cash for the difference.