Needing to find some private money

[Dustin Lavender]

I'm looking at a 16 units apartment deal. It is solid. Built in the 70's. Could use some slow updating but is all currently rented. It is really 4, 2 story town houses side by side with 4 2/1 units in each house. There are some value adds that can be done right off such a as raising rent to market. Here are the #'S on it: Appraised -650 Asking-480k Down-15% Tax - $6k Ins-10k Mrtg-2800 per month Rent income-6400 (market here should be $500 per unit, or 8k) What are your thoughts on this deal? where do you guys find private money for a deal like this? How would you structure a private money deal for the down payment on this property?