Think of it this way, at some point, a minimal amount of wear & tear to the unit requires paint to be touched-up.

A primary residence will most often provide more favorable loan terms so if you are willing to wait one year while you living in your new property and are comfortable with renting out your primary residence to a tenant, then getting something such as an FHA loan is a good strategy to minimize your upfront costs and hopefully get better loan terms.

No more messing around.If they get out without issue, fix and clean whatever was done and thank your lucky stars you got out with minimal problems.

I like Clarksville, TN because of the strong fundamentals, minimal volatility, and balance of cash flow and appreciation opportunities. 

With minimal equity it doesn't make sense, your rate seems good too compared to current ones

Zillow seems to do minimal verification of information provided and that just isn't good enough.Your situation does seem strange though. 

And yes I have done one in 50 years in the industry.Facts:1. purchase contract and gave 50k up front to bring tax's current. 2. it was all cash no contingencies.3. seller just goes dark no response to anything.4.

I also agree with Joe in minimizing dead equity.

There are a few properties in the Midwest that manage to generate cash flow, although the appreciation is minimal—this is about the best scenario you can expect.

The Bayport Dr deal intrigued us due to its market-ready condition, favorable purchase price, and high potential for profit with minimal effort.