Two partners want to sell a three family home, for $37,500. This is around 5k below asses value. There are only two apts. rented bringing in $850 a month. The third is in the middle of rehab, and will be able to bring $450 a month. The owners will hold papers for five years @10% down, and 10% interest. The mortgage would be around $800 a month. I feel that this would be a great whole sale deal. My credit is bad but I can come up with the down payment.Any suggestions? :help
$850 each or total?