The upside to such a great location is tremendous and you're riding a huge wave of temporary nurse positions where the housing is covered. 

I just read an interesting article about home flipping statistics: https://nationalmortgageprofes...It seems that the rate of home flips as a percentage of all home sales, as well as the profit margin for flips, have both have decreased in Q1 this year, with the exception of a few metro areas.

Knowing the red flags of scams will decrease your chance of being a victim of a scam and possibly losing out on a lot of money.

We made an offer after watching the house decrease in price over time and then plateau at $255,000; we offered to pay the asking price as long as the seller covered closing costs.

We made an offer after watching the house decrease in price over time and then plateau at $255,000; we offered to pay the asking price as long as the seller covered closing costs.

Worst case you may need to dig out around the basement and build temporary retaining walls and building cribbing while you replace the basement walls.

The bedrooms below grade would definitely decrease the overall value of the home due to the fact it is less desirable.  

Does the house have a suite or could you rent a room to decrease your living costs (the latter depends on if you'd want a roommate and not everyone does).

This is great for high income earners because normally the added income will be taxed at your marginal tax rate.With that said, real estate investing won't likely decrease your taxable income unless you or your spouse were designated as a real estate professional.

We never consider temporary means of income as part of the calculation.