That said, if you only have a few "residential" rental buildings, most direct carriers can get you pretty low deductibles on their stand-alone policies (State Farm, Allstate, Farmers, Nationwide, etc.). 

However, I suggest you should have enough toiletries for a 5 day stay. 

I would suggest if you had not already to put some of your money into a ROTH IRA (maximum is $7,000 per individual) and invest in VTSAX. 

You might suggest that once they get their money back, you split the first $100k (or whatever number makes sense in your deal) 25/75 where you get 25%, then anything over $100k, you split 50/50.  

Let me know if you have any suggestions, thanks.

I would suggest checking it out!

Thanks for the information & suggestions Garrett.

The interest rate is nice, if there was a way to increase the cash flow to ~15% or greater COC you could pull a HELOC on the property for 9% and collect the delta.again though, i would suggest selling it and trying to lock up a property or two with the proceeds that required some sweat equity, force appreciation through a reno, rent it out, refinance and repeat (BRRRR)

My suggestion would be to manage it yourself for 1-2 years, then as you acquire more rental properties, you can start using a PM. 

Considering it's from a reputable auction site, do I have decent legal standing if they misrepresent it?