if it were me, at your age, I would attack the debt and begin to line up my team and have a solid plan ready to execute...(2 prong approach) IE: What bank would I want to partner with.

(we ended up tearing down the small addition during the rehab eliminating a bedroom).I had been watching this property for several months.There had been many showings due to the already low price but when potential buyers would see the interior they were quickly turned off.We finally had our latest rehab under contract and it was time to make a move so I called up my contractor to meet me at the home for budgeting purposes and started to call potential private investors.This would be the riskiest rehab we had completed to date.I have a construction management degree and10 years of residential and commercial construction experience so it wasn’t the rehab that made me nervous, it was the financials!

Can I bring in another broker to represent me at this stage?

I've been in construction for 20 years and I wonder if my knowledge VS the appraisal might benefit me at the end of the transaction.

When dealing with sellers, to convince them to sell to me at a discount, should I be using the fixer-upper comps or the upgraded comps?

I don't really consider 1.5M a large deal, although putting up 300k is not in the cards for me at this point.My family had rental property when I was growing and I eventually took over six doors, converted them and sold them for 1.2M +I've also worked on 20M new constuction projects even though we didn't get off the ground, I learned a lot there as well.I want to structure deals so I can acquire numerous doors and use my managment skills and sweat equity for now.My brother in-law is a commercial agents who sells 18M+ multi-families all the time.

"Hey mr/mrs listing agent, I really really want your house and want to pay anything you counter me at."

No idea what the gurus are selling, I prefer to teach conventionally without sizzle, just the steak, the meat, I'll leave desert for others.

You lost me at "it might take longer to rent".

Based on comps and research, I'll include the figures I've come across for this particular apartment.Purchase price: $75,000Gross Rent: $400 per person x 4 people = $1,600PI = ($450)Vacancy: Low in this area but let's say 10% = ($160)Condo fees (includes insurance) = ($200)Taxes = ($100)Expenses & Water bill = ($250)Cash flow = $440Vacancy was reported to me at 97% by a property management company.