Insurance is a lot like gambling: the house always wins.They entice you to pay extra by promising to cover the full cost, minus deductible.

You can end up looking at 100 properties and still not be able to recognize a good deal if you don't know what you are looking for.

**************/mvc/auction/810929So buying it is a gamble that the owner never pays it off and you could foreclosure on the house.However if owner pays it off then you would loose everything over the $85 you pay?

I recognize that you are putting a lot ($50k) into reno and repair immediately, so that should buy you some time.

At least she recognizes she owes you.  

However, if he is giving you a discounted fee for his labor and is willing to gamble on a percentage of the "profit" instead then that would be okay - but you may have to dig in your pocket to pay that percentage at the back end. 

I understand multifamily will be hard to come by but also recognize the many pros they provide as rentals (and in my case a sort-of house hack).

First of all, hey I recognize those tigers in your profile pic!

Not having more info I would gamble that your price needs adjusting .  

Of course you have to remember that PA does not recognize 1031 at the state level.