It is possible for the national index/etf/itb to be soring and the city/town in which you hold your properties just lost a major employer or vice-versa.For most real estate investors your best hedge is to buy your properties well - when performing diligence model the property with rent set under market, a sufficient allowance for vacancy & bad debt, and realistic to conservative operating expenses.

And I didn't start making a high income until late last year, so have less than a full year's proof of sufficient income.

It's awesome that you got the verbal offer accepted.Here is what I would do:Get the offer signed and throw in a token amount of earnest money to make it legal.

As a newbie, you should educate yourself sufficiently to minimize the possibility of such happening.

This assumes your credit is sufficient to make sure you can utilize conventional financing effectively otherwise FHA for the primary home will allow the most leverage at 96.5% loan however FHA adds 1.75% of your loan that gets financed into your loan and an additional 1.35% annual mortgage insurance.

In most situations, that will be sufficient to protect you.

A 25 year old furnace is sufficient until it quits (usually on christmas eve:))

IMO, LMOs are not be getting sufficient training, reminds me of the old commercial where a financial planner pushes the same IRA across his desk to any client saying "this plan is especially tailored to your needs".

Please accept this as a token of my appreciation for having you as a guest.Any questions or concerns feel free to contact me at....LandlordNow you have shown goodwill for $100.

Do you know if taking a detailed walk through video would be sufficient for a contractor to do a rough estimate?