Small single family with tenant
I have a potential deal on the hook however, the property has been neglected by its previous and current owners and the current tenant isn't the cleanest. Current owner is willing to break even on the purchase price however, in my opinion I think he should consider 5 or 10k less then the purchase price considering the amount of repairs he neglected over the length of ownership. This property would be my third investment so I'm undecided on moving forward. Owner stated that tenant doesn't have intentions of moving out however, I wouldn't have intentions of keeping her considering the amount of repairs needed, the way she keeps the property and the fact that she's always late with the rent.
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Hey @Michael Daniel! It's hard to give any recommendations without any specific questions/real numbers. What price is the seller asking? How much is rent? How much rehab are you estimating? What will the ARV be?