With very intensive field research or property check of us for our next property, anything under $150k is left over with all type of problems.

Many agents do not want to deal with 203k deals because they can be very time intensive.

Airbnb here is great, but it's very labor intensive unless you contract out the management side of things.

Now, if the seller is in dire need of cash and you want this deal, you also might work out an arrangement for a non-refundable deposit that will be applied to closing as long as you get 7 more days.Good luck.  

our experience has been that about 50% of those inherited tenants work out, and the others don't... to varying degrees of expense.

For all you 100% leverage folks out there how did that work out for you between 2007 and 2012? 

You guys work out a payment schedule and rate.

I just put an offer in on my first two family (fingers crossed) it will work out.

It all depends on terms and how the numbers ultimately work out in the deal.

What your Dad wants you to do is research your exit plan if your plan does not work out like you expect.