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New to BP I have not actually been inside the property as of yet but from what I was told it only needs minor cosmetic changes. These are just preliminary thoughts as I will have all figures before I do anything. He bought the building foreclosure in 2011 invested and is trying to flip it. He hasn told me the expenses exactly I just took the figure that was on the site and divided it by 12 for the months. I figure it won be that much either but better safe than sorry. Even if it was I don see a negative to doing this deal. He already has tenants fully occupied in the building. Is there anything else I should be looking for? I trying to find negatives but are coming up short. The value is expected to increase even more because they are currently building new town holmes in the neighborhood. A good loan officer should be able to get you a loan on this property even if you making $4.75/hour. No, I not missing any zeros. The lender will use 75% of the current rents towards your qualification. Looks like the numbers are very favorable so getting a lan should not be an issue. No, you don need the typical 2 years landlord experience. I not sure if you can replicate it, but my loan officer is really good. Get an inspection and the inspector will tell you the conditions of the property. Like I said above, I have bought this property yesterday. Sorry for the late response.

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