[Calc Review] Help me analyze this deal

3 Replies

So here is the Fly in the ointment. The floor is very tilted. Its an all brick house built 100 years ago. Its stable. The renters seem OK with it. But I think it would make any bank refi impossible. So buying it with my HELOC means I have to wait a few years to own it outright. The top unit rents for 500 a month, the bottom unit is freshly renovated (without addressing the sloped floor) and rents for 750. Both units a rented with 1 year leases. So do I take the cash cow and let it buy itself or looks for a better property that costs say 80k, but that I can refi easily? I have 100k to play with.