Partner Driven negotiated the purchase for $125,000, based on the property's need for substantial repairs and upgrades.

I feel like it's more advantageous to pay off one house to save on interest, HOI, and have some cushion for repairs for the rental houses.

The tenants will be staying at the premises for the duration of the repair and expect compensation for the inconvenience/impact.

The seller can't cover these repairs before closing but has offered to credit the repair costs at closing instead.

The reletting charge doesn’t release Tenant from continued liability for future or past-due rent; charges for cleaning, repairing, repainting, or dealing with unreturned keys; or other sums due.

If you are taking extensive time managing, spending money on gas, repairs and maintenance you are under water.

If you are using their money for a down payment, are you really planning on renting it to them in a traditional sense or simply having them pay for the mortgage, insurance, taxes, etc (ie you won't be renting it at market value more you are buying the home for them and they are making all of the payments and repairs?

It certainly is possible to get an investment loan on a property like this, but it would be necessary to run the numbers to see what the after repair value is for the work that will be done to make sure that all of the numbers work.

But, if repairs come up and they don't have the money to fix them, if they put a bad tenant in that does a lot of damage, or in general, if the neighborhood starts deteriorating, it could turn into a bad investment.These are all things to think about with any real estate investment.

We've also done all the maintenance and repairs all these years, we put new linoleum in the kitchen, painted the interior, built a new fence/gate, stained all cabinets, much more all without reimbursement as the owner is a tightwad and had never wanted to pay for upgrades.