These should be reflected in the purchase price or negotiated as part of the terms, such as the seller carrying some of the renovation burden.Use seller financing to your advantage by proposing a price closer to $225,000-$250,000 with terms such as 20% down, a low interest rate (4-5%), or interest-only payments for 3-5 years, with a balloon payment once renovations are complete and cash flow stabilizes.If the seller is firm on price, consider negotiating higher down payment terms to reduce the financed amount, paired with interest-only terms or a price reduction tied to renovation milestones.Key questions to address include the condition of the septic system, which can be a significant expense if it fails.

I've calculated the lump sum costs to be $9,500 for buy and sell combined and a monthly reduction in cashflow of $347 due to the new loan and taxes.

But if those payments feel like dead weight, Dave Ramsey’s “debt-free” mindset could be worth revisiting.Here’s a quick story to illustrate.

Other people might look at the proof I'm providing and realize that it holds more weight than what people "think" will happen, so I'm posting for anyone who might be into that.

I enjoy college football, video games, and lifting weights. 

There is tax reduction and appreciation to consider as well. 

@Eric Andersen definitely put weight into what @Michael Baum wrote and do your own research on the city regulation/zoning.

QE et al (inflation reduction act!

I like umbrella because there is no worry of being pierced for inadequate separation of finances, if sued you have a heavy weight in your corner who has all the consequences of a defeat, and because usually it is reasonably priced (mine today is not so reasonably priced but I believe it is mostly related to the risks of CA).I do understand that the probability of needing the umbrella policy is low.  

@MIchael McCUe   I get it, it feels like an incredible weight that you could easily lift with bankruptcy.