Always a lot cheaper and more efficient to run a document by an attorney for review than drafting from scratch.  

The alternative is moving to somewhere cheaper or find a higher paying job.

A local contractor would be an ideal buyer and could likely complete the repairs far cheaper than the OOS OP.   

Here are some tips:Remember: cheaper doesn't mean you'll make more money.Start by going to www.narpm.org to search their directory of managers.

Even in some of the cheaper land areas, construction on new builds has razor thin margins from what I've seen.

Thats why I started in cheaper cash flowing midwest markets and now sit at 9 doors across Memphis and Detroit and looking to add more.

At the time, it was cheaper to purchase than it was to rent.

There may be cheaper options than 8%.

Get insurance lined up well before closing so now would be a good time.You need a landlord policy, slightly different (and usually cheaper) than a normal homeowners policy.I have been super happy with USAA for our rentals - if you or your parents served then you can get USAA, they are set up to work with landlords.

They can provide ideas of how to do things cheaper, re-use materials where appropriate, etc.Proper planning and foresight of a project.