He knows the owner personally and advised him to just get rid of the place b/c it needs so much work.. but the owner just inherited the home from his dad, who passed and was thinking about fixing it and living in it.I talked to the guy for about 5 minutes and explained that we could do a quick sale and I can pay cash. 

@Brett B. 

Which came first…hard to say.I have never reached an impasse in negotiations b/c of a claim in seeking excessive profits but it has been just another thing in the long list of claims buyers/realtors make to justify a low offer.

Not defending either market over the other just point out they are different,Hi Brock,Thanks for your post.As the saying goes "There are many ways to skin a cat" hahaJust as an FYI, that the gross rent on a $60,000 duplex in Ohio would be around $1,000 - $1,200pm making it $5,000+ in monthly rent if 5 where taken into consideration.Also, $60,000 would buy turnkey and decent B class blue collar area.Thanks for reading and have a great day.

Hi @Nature B. 

@Luther Smith Just to add on to what @Mike B. said, the $750k proceeds from the refi is 25% down on a $3,000,000 building.I would go a step even further than @Jerry W. and say don't use the equity in your home to leverage into a deal via a HELOC.

Floor b.

Robert B. 

I'd like to think you'll find the resources we offer on structuring syndications / private offerings to start your own RE investment firm informative as well (pretty sure I'm biased though).The terminology, process, necessary documents and decisions (PPM, Reg D 506 (b vs c), blind bool preferred return, etc. all seem a bit overwhelming at first, but it's pretty straight forward once you understand the basics and get some exposure to the moving parts. 

@Mary B.