To look at it any other way is to pinch pennies at the cost of dollars.

I’ve done a full renovation on a rental (was abandoned house) that was a hit for about 55/sq ft and did another abandoned historic home that we tried to pinch pennies on but keep nice for around 83/ sq ft.  

If you deduct that from the 1700 rent, cash flow is 1,339.I was there too and I won the box of Godiva choclates :)Tufan The prices for a box of Godiva chocolates range from $3.99 to $375.00 (per website). 

Good in a pinch but not healthy for you in the long run.

I'm also in a bit of a pinch.

Fee: 8% total gross rental income. 50% first months rent each time tenant is procured and $375 on renewal.Maintenance fee: 10% of repair cost on all maintenance coordinated & 20% on all renovation costs coordinated.NSF/Late Fees: Split equallyInterest on Deposits: To property management companyI don't want to pinch pennies on this, but I certainly don't want to overpay when it may not necessarily assure me better service.  1.) 

Not just by buying stuff I wholesale, but he's also a lawyer and advises me when I get in a pinch.

This is sometimes referred to as a sandwich lease option, pinching both to improve your income.. negotiating skills important.If the buyer wants to back out that's not your obligation to follow through with it if your contracts are worded correctly, it falls on the seller.

I've actually purchased a mobile A/C unit just for this purpose. fairly cheap, and in a pinch it can save you and your tenants some stress.

Like Forrest Gump could have said, "Home auctions are like a box of chocolates...you don't what you are going to get..."