There is a 5th unit that can be remodeled (and the building is grandfathered in to allow 5 units), but it's basically an unfinished moldy basement right now. 

I am getting some interest from local lenders but one would only lend to an Entity, and the other wouldn't lend to first timers, which is ironic since I have a lifetime of remodeling, but none as an investment property.  

Bathroom and kitchens are expensive spaces.

Will he do like a 5 year seller financing until you can build equity through labor / remodeling or mortgage pay down?

I closed this loan in August of last year and remodeled the home top to bottom.

The only other pertinent info i have from them is that the capital improvements are as follows:Six 3-bd units have gotten kitchen and bathroom updatesAll units have been repainted and floors refinishedNew boiler in 2005600 amp electric"Some" copper risers replaced in 2015New HW 97-gallon tank in 2014So what do you think?

Quick question BP Nation....

What's the most durable type of sink best for a future rental? And what thickness should it be? What price range? I'm torn between Stainless Steel and Black Granite Composite. Any ad...

Windows, roif, gutters, appliances, bathrooms, kitchens, HVAC.

Inspection was completed 6/29, seller made a few repairs, I did an inspection of the repairs and we closed 8/8/16.After closing, I did some plumbing work that the inspection turned up, and repaired a kitchen light.

An example would be if you are a great negotiator siting across the kitchen table from a homeowner may work great.