Or you find out that your PM found his wife under the keyboard player of an 80s cover band last week and is locked up for ag-assault in the county jail for thirty days with no one available to collect rent or continue the process of evicting those people on Center St. who might or might not be running a under-the-table daycare center/illegal pain pill distribution center out of your property...Does your whole house of debt collapse because Murphy wasn't in a good mood this week?

As much as I would love to start searching for my first property now, I am currently locked into my current lease until December.

I'm wondering if I were to crunch the numbers and find a viable place, if I can make an offer to lock in the place, and then what "loopholes" I have if later I decide the place isn't right to purchase.For example, if my offer included a requirement for a home inspection, and that inspection comes back with 10 things noted by the inspector.

Originally posted by @Aaron Klatt:From what you've said about not wanting to drop 30% of your income on primary residence it sounds as if you have made your decisionSo either way we weren’t planning to to buy the larger home right now, only because we felt it might hinder our investment growth.Now, you got me thinking if I need to think “big picture” to focus on locking down our long term primary residence with favorable rates.The no down payment and no PMI is what’s got my attention.

Current Zillow estimate is 78k and they still have 4 years left on the option (this one was our first one so we didn’t build in enough appreciation and we will only make around 12k each on it but it got us off to the races). https://www.zillow.com/homedetails/121-W-Harding-Ave-COOLIDGE-AZ-85128/8685741_zpid/So you can see that our model is pretty simple and is attractive to people who want to own a home but are not able to get a mortgage on one right now but they can lock in a price today, plant their roots, and work towards getting their credit repaired.

., if this damage is caused by leaving windows open, allowing stoppage and/or overflow or water and/or sewage pipes, broken windows or doors, torn screens, broken door and window locks, etc. or any damage caused while Tenant has occupancy.22.NOTIFICATION OF SERIOUS BUILDING PROBLEMS:Tenant agrees to notify Landlord immediately if roof leaks, water spots appear on ceiling, or at the first sign of termite activity.

I managed a 120 unit complex, all turns were done in 24 hours,Painting, carpet cleaning, turn cleaning, locks, we had a well managed crew and averaged 5 to 12 (during usually June) turns a month.  

Do you think it's worth it to lock in a fixed rate even if it will cost me another $3000-5000 in closing costs?

MLS is around $800 a year, lock box, finger print test.

If you are strictly a debt investor then read about creating notes, look for 12-15% interest locked in with a lien on the property and a personal guarantee from the borrower.