Any Way to Make This Work?
Okay, real estate gurus. I have an owner of a 3/1 down and 2/1 up duplex (he lives in it) that wants to move down to Florida. He's asking $220k and arrived at that number this way : $110k current mortgage, $100k down on FL home, and $10k moving expenses. Monthly rental income would be $2150.
As a straight cash purchase, it doesn't work. Is there any creative way to approach this that may help? Looking for ideas or just straight "no's"
Thanks!