thank you BP...first property under contract!
First of all, thanks to all of the BiggerPockets Community for answering hundreds of my questions. What a great site!
After looking at several dozen properties we found one in the newspaper FSBO. We made our appointment last week after doing some research and driving by the property a couple of times. It's a nice all brick fourplex about 5 miles from our primary residence. offered 95k and it was accepted about six hours later. each unit rents for $450.00 per month. Two units filled with long-term tenants, one just got new flooring and is ready to be rented and the other needs some new flooring and it is good to go. Previous owners have 6 other properties and are selling and moving to Florida for retirement. It hasnt been appraised yet but my estimate is that the value is around 115-120k according to comps. My wife and I are very excited to start this journey...again thanks so much for all of the advice on this site! I'm sure my asking of questions has only just begun! Ha.