during 2008 there was no such resources as BP.. everyone was out to save their own skins.. banks were failing .. etc

They'll want you to have some skin in the game (~15% of purchase + reno) and you may have trouble if you've never done a flip or BRRRR before.My gut tells me this doesn't work as a BRRRR, rent is too low.

Mold needs moisture, the right temperature and food to grow.

The family had foreclosed on another home in the past and couldn't get a mortgage, so by structuring a 3 year lease option, they rented from us but treated the home like it was their own because they had skin in the game ($5k deposit and paying slightly above market rent rate).

The family had foreclosed on another home in the past and couldn't get a mortgage, so by structuring a 3 year lease option, they rented from us but treated the home like it was their own because they had skin in the game ($5k deposit and paying slightly above market rent rate).

They can also go in closets and they're not vented, they condense the moisture and drain it out. 

Hello, I've always been a stock market investor and am trying to educate myself on real estate as an option to diversify my investments. My initial thought was that I'd like to have '5 doors' to buy and hold with the ...

The FHA says that examples of such problems include but are not limited to the following: Missing handrailsCracked or damaged exit doors that are otherwise operableCracked window glassDefective paint surfaces in homes constructed post-1978 (because of lead paint hazards)Minor plumbing leaks (such as dripping faucets)Defective floor finishes or coverings (worn through the finish, badly soiled carpeting)Evidence of previous (non-active) wood-destroying insect/organism damage where there is no evidence of unrepaired structural damageRotten or worn-out counter topsDamaged plaster, sheetrock or other wall and ceiling materials in homes constructed post-1978Poor workmanshipTrip hazards (cracked or partially heaving sidewalks, poorly installed carpeting)Crawl spaces with debris and trashLack of an all-weather driveway surface=================There are many areas, however, where the FHA does require problems to be remedied in order for the sale to close.Electrical and Heating The electrical box should not have any frayed or exposed wires.All habitable rooms must have a functioning heat source (except in a few select cities with mild winters).Roofs and Attics The roofing must keep moisture out.The roofing must be expected to last for at least two more years.The appraiser must inspect the attic for evidence of possible roof problems.The roof cannot have more than three layers of roofing.If the inspection reveals the need for roof repairs and the roof already has three or more layers of roofing, the FHA requires a new roof.Water HeatersThe water heater must meet local building codes and must convey with the property.Hazards and NuisancesA number of conditions fall under this category.

A ton of different ways to skin a cat!

So that they have a little on going skin in the game if they feel it is truly a good deal