I would strongly caution against renting something out in the short term in hopes that you'll get a higher price for it in 1-2 years, especially if you're going to lose money on it every month.The biggest flaw to this approach is the idea that a tenant is going to take good care of the property and it will be in the same condition in 1-2 years when you're ready to sell.

I don't think your thinking here is bad or flawed.

Sure, you intentions are good, I don't think you are a bad guy, your actions are flawed from an observation point which does present some predatory characteristics.

Some of the terminology is institutional in nature but the trade concept is flawed.

Each of which could be a fatal flaw in a court.One solution does not cover all situations.

For those who are interested (and certainly we're still open to feedback), here is a link to the design we'll likely be moving forward with -- assuming the architect and engineer don't see any major flaws: J Scott - House Design - Rev 3 And here is a JPEG version for those who don't feel like downloading the PDF (sorry, they're probably tough to read):

Here is my plan...please tell me if you see any certain flaws in my logic..haha...A year ago we made the decision, to take 36k that we had saved up and buy a small bank owned condo and use it as a rental.

Really, if you want good legal advice, you need to see a lawyer.But fundamentally there's a huge flaw in what you're saying.

But, we saw some condos, that appear to be in decent conditions, based on a 20 minute tour. 2) For the as-is properties, should we expect to uncover some major issues during inspection?

- Are my estimated costs too high/low or flaws with my calculations?