Current Purchase Price: $188,000Total Expected Monthly Rent: $2,100It is a 1925 triplex that needs (to name a few):- Foundation work (post and pier, $11k worth of work)- Roof replacement ($11k worth of work)- Electric that needs to be brought up to code (still has knob and tube wiring, etc.)- Termite treatment- 1 dysfunctional water heaterAccording to contractor bids, there is at least $45k worth of repairs. 

If it’s the right relationship, that year compared to a life long foundation for financial freedom means nothing.

I mean, the foundation had clear signs of issues that they had repaired, even installing post/pillar foundation in the crawl space.

Went to see a property a few weeks ago that had "minor" repairs per listing realtor that had major foundation issues (cracks everywhere inside and out)... 

You will get a good foundation in real estate law which can be helpful.

Hi there, Recently got a property under contract with my client that has some foundation issues that have been fixed.

Revisiting this... after inspections by plumber, foundation, and AC (not a general inspector) and winning the fight to get utilities turned on, I've come up with $25k of repairs/replacements. 

First he put a new foundation under the current house and then he rebuilt the top of it.

And I certainly agree with Eric that an attorney is imperative.What's really I guess at the foundation of my questions is this:If a person who is in a bind - and I see this often - where they aren't behind enough to warrant a short sale, but they don't want to show up to closing table with let's say $10,000.

They've likely seen one too many episodes of HGTV, fearing a cracked foundation they missed the first 12 walk through's. 119k may seem like a small amount to you.