I have been offered an exclusive Deal by a local "friend"/ semi-mentor in my small town.  8 standard 2/1 apartments -  Quad, duplex, duplex, 1970 Dated buildings, little neglected but liveableOwner finance: 20yr 6%rate with 20k down------------------------------------------------Total purchase 400KCurrent NOI: 41k     Cap: 10         (Tax,Ins,Maint, Util)Gross rent 4500/mth-----------------------------------------------Upgrade, Est repairs: 60k After reno: NOI: 59K   Gross rent: 6100------------------------------------------------Loan pmt: 2865/mth,    34k/yrCurrent Cash flow: 531/mth,  6,378/yrAfter reno Cash Flow: 2131/mth,  25,578/Yr-------------------------------------------------Added info- -Property line Joins with (growing) Community college-Tiny town-The Buildings are Currently "uglyish".- Current Rent is 150$- $200 behind market avg.I am very comfortable in single family homes in this town (own 18 SFH rented and performing well).

We purchased our first duplex last year and we are currently house-hacking it.

I would prefer not to have to commit to an agent at this time, so an individual who has great real estate experience but is not a realtor is preferred.I can do it if you would like or one of my best friends is an agent and investor that wont make you commit to anything.  

Then focus in on the comps that have the same bed/bath/sqf and take the average.The rate? 

However, if it's the intent of the agent to purchase for their own portfolio it may be a violation of law.

I still haven't purchased my first home.

Your gain on the rental property will beSales price less sales expenses less adjusted basis.Adjusted basis is purchase price plus improvements less accumulated depreciation.Best of luck.

My best friend is moving into the house alone; her son will reside there during summers home from college. 

I also suggest purchasing a book on Audible called "Real Estate Terms Pocket Dictionary."

Purchase price: $35,000 Cash invested: $280,000 Sale price: $440,000 purchased vacant lot, built home, sold How did you find this deal and how did you negotiate it?