They are highly illiquid and low quality assets that take a high touch to perform.Instead of buying a 50k house for cash why not buy a 200k house in a nicer area  stage 0 of a new home subdivision.

I can't offer much help right now, but I'd be happy to keep in touch on BP and share experiences and ideas as they come.

Put $60K into a "reserved" cash account with third party (e.g. attorney) with 'don't touch unless the loan is called' along with other instructions.

But now that it's over,the fight begins to find that next client.There is so much to learn and so much to do that it seems overwhelming.You have to accept that it's going to take time and instead of trying to do a ton of things at the same time,pick one or two tasks per day and devote the time to getting those done.Small and steady steps will keep you moving forward,that's the game plan.I need to build a website that clients will enjoy seeing and using.I have to reach out and touch every person I know or use to know and still talk to on Facebook.I'm planning on a lot of lunches and dinners with former high school classmates and fellow employees from my previous career of 20 years.

Dom, it sounds like you should touch base with a real estate friendly accountant, so that you can run some scenarios by him/her.

Painting - there are holes from hanging pictures and some spots that need touched up.

Search the forums, this discussion has been an extensively touched subject.

With anything old, it's bound to be an onion of problems to replace, so unless it is necessary to replace it, I would not touch it.On the other hand, if everyone else in the neighborhood is updated high efficiency, then that's another story and it makes your house somewhat deficient.Not sure how you get from a $2K replacement cost to $6-10K value increase.

@Jacob Pereira, I will get in touch with those guys!

The exchange has to be done with an intermediary because you aren't allowed to touch the funds, but you're past that now...