Borrower had been paying the owner of this property monthly since 2015 and put down $30,000 total in that time, plus did improvements to the property. The owner agreed to put borrower on title recently so she can take over property management and continue improving the building. $659,000 of the loan proceeds will go to the previous owner, and the remaining proceeds will go towards rehab/tenant improvements. Once improvements are completed, the rents per unit will be $3,000.00 per month. Borrower's credit is 639.