I failed to inspect the walls before the painted or I could have caught thisIt's not spackle you need, spackle is the stuff you use to fill small holes. 

That seems like an amazing loop hole to get down to 15% capital gains vs my 24% bracket.  

If you pull all the potential equity (~$262k) out, you'll be in the hole every month by almost $250.I'm not seeing why this deal is worth pursuing.

Hi,I'm a single mom with a six month old baby. I have 80-100k of equity in my house I can easily pull out. My plan is to stay home with  my child to raise her. I can't get a new mortgage being I am currently unemploye...

Finding loop holes is fine!

Not trying to be negative but this is going to be a tough deal to make work.I’d look for something that’s a rat hole and needs work or look in a different asset class or market.

Looks like a good hole for homeless to sleep inside.

Our tenants just moved out and left our home dirty with stained carpet (which was brand new when they got there) lots of scratches on the wood floor, holes in the walls, chipped paint and large scratches in walls.

Do not go down the rabbit hole of getting involved in the lives of your tenants.

I would do and pay for renovations about $5000- $6000 (mostly comedic, paint, floors, a few drywall hole repairs etc.)