Quote from @Alex Thomsen: Quote from @Jason Wray: Alex,There is never a need to put that much money in earnest its usually because the seller or the builder is in a bind and need to quickly settle their debts or pay their vendors.

So my other options were to use my good credit but of course all of the loans want to use my personal credit and impact my debt-to-income.

Eliminate debt, establish a budget, and save.

BK is a WILD CARD.  

Imputed expenses are important because they will be included as Operating Expenses when a lender appraiser does its appraisal, and also when the lender calculates its Debt Service Coverage Ratio.Regarding pest control, it's not just monthly roach spraying.

It's a great book about how he became debt-free and started investing in house hacks.

Vito - Have you checked to see if there is an I-card for the property on the HPD website? 

Cherry South Bend INCurrent Property Status: This asset is sub-performing, which means the borrower is due for July, and foreclosure is to be referred next month if the account is not brought current.Syndication: Scottsdale REI - III - XXVIProperty Address: 172 Carlson St, Westbrook MECurrent Property Status: The borrower is currently in foreclosure, and the Fair Debt Collection Practices Act (FDCPA) letters have recently been sent to the borrower.Syndication: Scottsdale REI - III - XXVIProperty Address: 13959 465th Ave, Wilmot SDCurrent Property Status: Scottsdale was required to issue Service by Publication.

Since you're not even sure if you want to be a landlord then take the bulk of the money and pay off any debt. 

After I got good at pulling leads that work, I can switch that ratio and spend $3 on leads and $7 on sending something to those leads;  post cards, sms, rvm, cold calling.