HELP BP COMMUNITY! NOT SURE HOW TO PROCEED ON THIS FOURPLEX

[Jordan Butz]

Reaching out to the all-knowing BP community because I've been doing a lot of research and talking with various people in the local community here in Huntsville, AL and I am trying to commit on my first deal. I've been looking at some fourplexes in my area that are catching my eye. The one I've been analyzing is in between three universities and right down the road from the arsenal and the research park here in Huntsville.

I got a chance to talk one on one with the owner who lived there after I walked through the property and took pictures. She let me know that she was taking care of the property herself and was just exhausted and tired of it all because she is doing it all and her husband is stationed away from Huntsville but is having second thoughts about selling. 

Here's a little info about the property that I've ran through the calculator different ways.

Asking price: 175K (70% is 122,500)

Est. Repairs: 20-25K

Current Rent: 550/month (2200 total)

Vacancy: 220 (10%)

CapEx: 176 (8%)

Property Management: 242 (11%)

Repairs/Maintenance: 330 (15%)

Based on her estimates, 

Taxes: 125/month

Insurance: 125/ month 

Pest: 85/ month

Cash Flow: 373.41

COCROI: 9.53%

As you can see I put in conservative numbers everywhere and when vacancy is adjusted to 5% and repairs to 10%, it hits the estimated marks given by the 50% rule with a 600 cashflow. The only problem is I just changed jobs recently from serving food to car sales(hallelujah for being out of the restaurant biz) but now I can't use the 203K loan I was planning on because of not being in the same job field for a certain period of time. This is the real question though, what creative ways could I still take to pursue this or similar deals? I would love some feedback and hear what you all think might be some viable options.

Thank you so much in advance!

Jordan Butz