[Calc Review] Novice Investor, Help me analyze this deal?
Long story short, a relative has a property they've purchased that they don't have the time to manage since they are doing a much much much larger project. This building is 12 units, with one vacant and needing to be gut renovated. The cost and additional income is included in calculations. Also comes with a separate 12 car garage.
I'm looking to finance this deal over 30 years with 70-80% through a lender at 5.5% and the remainder through a personal loan at 5%. My only money in would be $100,000 for renovations that needed to be done on the one unit and general property improvements.