This would be my first investment property (Analysis). It's a duplex in Indianapolis, off market deal, with 80% private financing. Both sides have tenants with leases and are renting for $625. Thanks in advance for any insights! The current property manager is willing to continue managing for 10% of rents. This will be a long distance investment for me.
On the surface this sounds high risk. Are current tenants paying? What is the condition of the units? Do you have reserves to deal with any issues that may come up? Great job finding an off market deal and taking action. Be sure and do some due diligence on the property and the PM. Know that duplexs have higher turn over rates too. What area of Indy?
I do not want to discourage you but please take your time and make sure you know what you are getting. Happy to talk more if you want to message me.