I am capable of doing the labor required to rehab this unit, but I'm more concerned about the quality of the material going into the renovation. 

@Dimitri PaspalarisYou should stick with the date listed in the contract.If the seller wants to move the date up and you have the capability of moving it up - Ask the seller for a small compensation to move up the date.

As far as deposit, that ship has sailed.

Patience is the game when you're trying to change the course of a big ship!

If you can babysit the tenants and run a tight ship though then you can definitely profit more from the favorable numbers.

We are all special and capable of achieving and creating a better life for ourselves!

You can find definitions for "down payment" (or "down"), "balloon payment" and "interest only" pretty easily here using the Search capability, which is accessed via the magnifying glass icon at the upper-right of each page on the site.Just for fun, let's work the numbers, assuming the purchase price is $100K:The down payment, which is the amount of the purchase that must be paid at the time of closing, would be 20% of $100K, or $20KThe initial loan balance will be the purchase price less the down payment ($100K - $20K or $80K).

Essentially a GC is a project manager, so if you are capable of pulling it off, I see no reason you would need one.

It has very helpful tools, resources, and networking capabilities.

The problems are too large and I think the politicians are not capable to solve them.