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In short, I can afford the additional $1100/mo cost of a second house, even until I rent it out.I have around $35K in HYSA and emergency funds that I could use for a down payment, but that's less than 20% which would be required for a conventional loan, assuming full purchase price.

I paid him the normal closing cost, a few $ grand in fees, and a slightly higher interest rate than I might could have gotten conventionally. 

Legal consequences and potential financial loss that could have been avoided with timely updates.2.

Just say no.I would almost never do this trade unless all my downside, including potential unknowns, were completely compensated for. 

However, our tenant turned out to be problematic—late payments, issues that led to an eviction, and additional repair costs before we could relist the property for sale.Now, after months of making mortgage payments out of pocket, we finally have an offer.

With running this "business" there will be operational input costs.

Additional software estimates renovation costs and provides actionable analytics.

I have a pretty large emergency fund in place for those properties, but I wonder if that capital could be better employed elsewhere (potentially acquire another property).  

I wondering if I can deduct any of the repair, closing cost and deprecation on taxes.