You will meet people from different walks of life that will give you different perspectives on real estate investing.

So, if they offer anything of substance I would take the bird in hand and walk away ahead without dealing with any hassles for months.

I've always had this dream of a beach home within walking distance to the beach, so I realize I probably need to back up and look at this more objectively instead of emotionally when it comes to extra wear and tear and higher insurance costs, weather impacts, etc.

He can also walk you through the actual acquisition process if you've never bought rental property before.I would, however, encourage you to do your own due diligence when analyzing the market and the actual property you are looking at.

Any tenant can walk from an annual lease if they want and you won’t be made whole. 

I got my bill for my house in Lake Oswego from Safeco which I had had for years and it was always around 2k to 2.3 k  i get the bill its 6k.. i call my agent and told him no way.. and he hunted around and found me something maybe 500 cheaper .. so I thought I have a aaa card I know they sell insurance and are reputable.. walk in there 1800 bucks done and I have full  basement ( which is rare on a new home in Oregon) and they gave me a much higher insurance amount if my sump pump fails.. bottom line shop.u

With a new value of 186K, you new loan will be capped at 139500K, so you can do a cash out refinance and walk away with some cash.

This means it costs money to walk away but incentivizes the seller to take your offer.

They would have done a walk through and see what the place looked like.I doubt there is mold in the dryer vent.

@Daniel Tkach you need to be working with someone that does rehabs themselves to be able to tell you how much it's going to cost after walking it.