The study could also identify the opportunity to capture additional benefits such as dispositions, and repair and maintenance expenditures.

It was about $10,000 to repair.

He's essentially lost $150K.Run the numbers if he was renting it for 5 years (minus mortgage, property taxes, repairs, etc). 

For instance tenant responsibility for up to $500, $1000, whatever in repairs before landlord responsibility kicks in.

It will need approximately 20k in repairs and have a ARV of 80 to 120k.

Especially in Iowa when it is 0 degrees and 30 mile per hour winds.These properties we are doing have the Teak component, but they all have secondary values with locations, building sites, phone/internet reception, water, palm trees, fruit trees etc. 

Learn repair costs asap.

I have actually been thinkin about cutting losses honestly, I am not sure this is the best investment I could have made as my first but worried about how much of a loss I would have to take.It is meant for S8 for sure, I would have a stringent application process, and give the neighborhood a C from my research.I invested there because it was the first deal that basically fell on my lap where the mentor works with agents that Seller Finance deals, it was only $3k down and had thought the proximity to St.Louis would be attractive to tenants also.I effed up on waiting to post for rent until after all repairs and the COO for sure.  

Customer service so far has been great, and repairs seem easy.

To stay secure, I’d recommend saving 3-6 months of mortgage payments, budgeting for repairs, and possibly investing in a home warranty.