In contract with my first rental property

[Joni Martin]

My husband and I are in contract with our first rental property in Deland Fl. Home inspection has my husband wanting to get out of contract. The home does not have insulation in the attic. Cost is  $1500. Plus some other repairs such as leaking fridge, floor tiles loose, some outlets not grounded, doors don’t open and close properly. The seller paid 50k 1 year ago and did some handyman updates.  The house is currently rented at $1,000 a month. Sale price is $87,500.   I think it’s still a good deal. Would love some feedback from anyone on whether this is a good deal. 

[Joni Martin]

Yay...got him to see the light! :). Still very scary because it is our first one. We are ready though, well...I am ready I should say. It's been a year of preparation. We have a series LLC setup which cost a lot of money and has not been utilized. I'll keep you posted. :)