Advice: How to save a Quadplex Deal with VA loan financing
I'm a first time home buyer and investor. I was supposed to close on a quadplex in Clayton County, GA for $157,500 with VA financing this month. I'm still under the financial contigency period. The home inspection said everything was solid, but the VA appraisal came back with an appraised value of $100,000.
My question is how can I salvage this deal? And also, considering the appraisal was nearly $60K below the agreed purchase price, should I still be considering saving this deal?
The property is cashflow positive with 3 units currently rented at an under market value of $1400 total. There are (2) 2b/ 1b & (2) 1b/ 1b. The seller will except no less than $150K for the property. I'm trying to figure out ways to make up the difference. Thanks.