110% financing - construction financing without equity

hello,

following situation.

Interested parties a have a combined salary (he is the main earner) of just under 3000 euros. (no liabilities)

equity close to 0... because we have all diligently paid off liabilities.

now they were offered a property, 2 parties - multi-family house. intended for own residence and renting. the rent would bring in 600 cold. the attic would also be expandable (pipes etc. available). the house is from the 70s but heating is from 92 and roof redone new in 2000. one apartment was renovated a few years ago. all in all a solid and very well-maintained impression.

there is a clear ok from the bank. the financing would amount to 1300 euros burden with 2% repayment. (this would be at 110%, sum approx. 310,000 euros at about 2.8 interest)

I see many pitfalls but just want to know your opinion on this...
buy yes?!... but how can we secure ourselves more effectively?

Definitely have an expert inspect the house beforehand.

How long is the fixed interest period for the loan? Is there still family planning to come, which will lead to income cuts?

10 years a mixed interest rate of 2.8% with 2% repayment. The main earner is my husband... a child would therefore not be extremely impactful on the financing.

Would a sale of an apartment as (option für schlechte zeiten) condominium be possible?