Deal analysis - Duplex with foundation issues!

[Paul Nagy]

Hello all and thx in advance to everyone who has commented and given input on my other similar posts. It's not easy out there to find a GREAT deal and that is exactly why I'm still looking for advice.

I'm looking at a duplex in the Kansas City area that has some sort of foundation issues. This is not my area of expertise but my real estate agent thinks it will need piers. I've built in a few cost assumptions so we'll just go off of them since the exact figures are unknown.

Duplex asking price $107k

I will pay no more than $97k

I am pre-approved at 3.85% with 20% down

Each unit is 2bd, 1 and a half bath with a finished walk-out basement. Each unit is approx 1800 sq ft.

Current rent is $700 per unit, after rehab each unit will fetch $725

Each unit needs around $3,000 of improvements (carpet, paint, etc)

Now....the kicker! Property has some sort of foundation issue and will need work (possibly piers?) The most I am willing to spend for the foundation repair is $10,000

Deal, or no deal?

Thanks, Paul~