Additional Considerations✅ Confirm assumption eligibility – Contact the lender directly before paying the arrears.✅ Get everything in writing – Work with a real estate attorney to draft a contract protecting your funds.✅ VA entitlement impact – If you assume the loan, check whether the seller’s VA entitlement is released.Final ThoughtsThis deal has potential, but structuring it correctly is key.

Some sales contract's don't limit the seller to retaining the $5k EMD, they can also seek liquidated damages in addition.

Homeowner should have an adequate policy and you can use additional damage protection from services like Safely and Waivo.Yes, security deposits are normal for MTRs and highly recommended. 

I was fine with all these numbers.Then I met with contractors...First, I wanted to add a new bathroom and approximately 450 sq ft of additional living space.

All of our self-storage run at basically 100% occupancy except for our most recent addition. 

If you need any additional help I will tag @Crawford Peay who is an experienced  property manager perhaps he can help. 

So your additional ~240 SF could be the foyer, hallway and bathroom spaces that are allocated by percentage to the unit.

This money will be used to pay down some debt I have and also purchase 1-2 additional rental properties.  

The family viewed the house, loved it, and requested that I install satellite TV and add it to the costs, which I did.

If they have a loan at a favorable rate, I give them additional money to take over the loan.