Which, as odd as it sounds, I'm totally bummed about!

Sounds kind of like a bum deal because I really am aiming for equity at this point in our lives, but on the other hand the rent cash flows very nicely.Thoughts?

I think I would be bummed out if I was the highest bid out of 80.

Unfortunately, the inspections turned up around $50K to $75K in repairs (my best guesstimate), which included foundation work, drainage (because water is actually getting into units during heavy rains, one tenant told the inspector she has had ankle deep water in her bedroom at times) and other water issues.I ran out of time to get any firm quotes during my feasibility period and the seller wouldn't extend or negotiate on price, so I just terminated the contract.I am really bummed because I think the property has a lot of potential, but I am not prepared to sink so much $$$ into repairs on my first deal, even for what appears to be a great return even with $100K in repairs.

Even a homeless bum could go to Walmart, buy a cell phone, go to the library and post a free ad on CL, and now he's a "contractor".I've made it a point not to pay anybody a dime until the job is done.

"Buyer" has sued and seller has counter sued for...FRAUD BY INDUCEMENT among other claims.

This is known as FRAUD BY INDUCEMENT.

So I am bummed.

Isn't the investor going to be bummed when he sees that you just paid that amount less?

It is an article about the record breaking rents Spokane LLs are getting with a few sympathy-inducing tragic stories of tenants forced into homelessness by high rents.