duplex purchase advice
hello all i need some advice from the professionals here. i have a deal asking price is 129k BUT i don't have the down deposit and the closing cost funds. I have someone willing to lend me the closing and down deposit repayment terms 5 years.
now when i run my numbers the property cash flows $544 monthly that 544 would go to the person lending me the money meaning first 5 years i would have 0 cashflow. is this a smart move or dangerous. i see it as since everything is fairly new and my current property manager manages this property as well i would add another duplex to my portfolio with 0 cost to me
more details about the property below
One furnace new in 2014
Newer water heaters
New Roof 2015
New Electrical service 2015
Exterior painted 2015
All New windows 2014
New Kitchens 2014