There is also a right to 'redemption' - where for 10 days after the sale, the original owner can 'claw back' the house by paying off the amount owed on the mortgage and associated foreclosure fees.  

Going chintzy on everything while self-managing might save you a management fee, but you'll give every bit of that back and more by hassling with unhappy guests over refunds, etc.Proactivity includes preventative maintenance.

This covers the purchase price of the property, any required down payment, the cost of the renovations, and any other costs like holding and closing fees.

Much cheaper than the 20% PM Fee.

If they default on the HML just recognize it probably has default interest around 20% and the fees add up quick.

You can sell it on a Lease Option, get 10% cash down as an option fee and cash flow the property.

Also, pay close attention to the fine print (specifically as it pertains to their fees and other charges that might come up).

My main issue is the $4816 in fees to take the line out.

If you take away 6% assumed agent fees, then we'd need ~25K cash to make up the difference to pay off the loan after the sale... which could hopefully be covered by the builder deposit.  

You may want to use listing spark- which will provide MLS (and other marketing sites) exposure for a fee.