Just put this house under contract, am im missing anything?

[Noa Bloch]

Hi 

http://www.zillow.com/homedetails/114-Baxter-St-Va...

My husband and i put an offer on this house, after negotiation it was accepted for 242k

We are using a hard money  lender to finance everything. 3 %  at closing and 11% annually. We are using a duplex in oakland we have as a collateral.

Anyone knows a good honest contractor in vallejo, ca? still need to figure out the rehab costs.

Meeting with an inspector tomorrow morning.

Got 6 days to close.

similar comps are at about 340 k. but after lender fees, rehab fees and agent fees we are not left with much.

Any creative idea , anyone out there? looks like a solid house in a nice area. we have been to the house  twice so far.

it will be a great air b and b property as it is 25 min from napa - where air b and b is not allowed.

we wont be able to hold the house due to debt income ratio that will prevent us to hold it long term.

Input anyone?

Will highly appreciate it 

Noa Bloch