It sounds to me like he's trying to squeeze some work out of you.What is common for your market?

And to make it work out here it would take a lot bigger down payment.

If the note defaults, the seller pays you out and takes over with the borrower to work out a plan.

Hopefully things work out in your favor.

I hope the house hacking can work out for you.

I didn't work out to 97% occupancy. 

It takes one to occupy the place but if it does not work out it will take a long time to disengage a bad tenant.

My take is I can buy it empty, have to have "vacant insurance," and have it sit empty for X long while I wait for 30+ day leases, or I can rent it regularly so it's occupied, guarded from vandals, and I'm making money while I wait for my leases, and I can work out all the post-rehab kinks with plumbing, electrical, etc. 

If you happen to make it on easy street then that should be taken as a side benefit of having everything work out just right, but I always say be flexible and allow for market fluxtuations and Murphy's law, andnever overextend yourelf especially when things appear to all be going your way becauese as I have said that can be short lived. 

Sorry it didn't work out and I lost your $100K, but it's all good, I'll send you a nice holiday card at the end of the year."4.