Closing in a few days. Cold feet or red flags?
Got a property under contract that's is going to be my first investment. Its a duplex in a decent neighborhood, half of which is already rented for 800/mo.
Issue is with the inspection I had done. Sewage in the basement of unoccupied side. Cast iron piping is leaking.
Roof is in need of repair within 5 years.
Electricity needs updating eventually (cloth wiring, knob and tube)
Otherwise only small nickle and dime fixes. Asking: 110k
Purchase: 95k
Comps look good as well
Closing is coming up really soon, so is my reticence warranted, or is this typical "cold feet"?
Thanks, guys!