Others might be fine with taking risk, but least by doing this a person can get an idea of what might go wrong. e) Legal document analysis: it will usually take a few days to go through the legal document properly, as almost inevitably there are tons of gotchas that either have to be explained, or mitigated with a side letter.

But as @Mike Dymski elegantly put it, if you do proper due diligence (DD) and evaluate (a) the deal sponsor, (b) the market, and (c) the overall offering itself, and all of it fits your preset criteria, then you're making your decision to invest based on the calculated risk. 

This made room for a large open concept kitchen, powder room, laundry room, 4th bedroom and dining room.

In the mean time I'll take your advice and start buying beds to fill up living rooms and dining rooms. 

It looks like she pulled the bathroom paint which was slightly a different color and touched up the hallway, stairwell and dining room.

-My grandparents unfortunately had a reverse mortgage several years ago and currently owe $290k on their house.The realtor set an asking price of $399k , this is low in my opinion - the house needs a little work but is large (4 br, 2 bath, parlor, dining room, kitchen, laundry room), they have a big backyard and a side yard the size of another lot in a good neighborhood.

Home was built in 1962 and had permitted add on rooms built in 1989, but now one of the original rooms opens into the add on dining room.

It has 3 bed, 2.5 bath, spacious living room dining room and kitchen, laundry room, large unfinished basement, front porch, back porch and yard.

We had a non-load bearing wall dividing the living room and dining room that we removed without getting a permit (because we honestly didn’t know we needed one).

New hardwood floor in living room and dining room, new carpet in bedrooms What made you interested in investing in this type of deal?