Paint, Plumbing, Roof, Flooring, appliances.B- neighborhood.55,750 down payment + 20k in repairs.  75750 all in.Median rent for the neighborhood is 2k.532 cash flow.I already asked them to drop the price by 15k for us to remain in the deal. 

As to your point about confusion in the future, it's our policy to leave the conversation and thread open and available for anyone to read, they can gather all of the information and make an informed decision for themselves based on ALL the information provided.

It's a 2 bed 1.5 bath ranch right next to a major hospital in one of the safest parts of the city, though, so all the inquiries have been from nurses.

You have to disclose all of this when you sell, so you will end up paying your plumber or discounting to your buyer.

Q1: Great points, we'll need to have a detailed operating agreement that outlines an agreed approach to all potential outcomes.

Thank you all in advance!

Who is their architect for all plans and permitting?

. ($16,900 total)You can take 33k each year and pay $3,300 in taxes all 3 years. ($9,900 total)Obviously this is simplified but unless you expect to make much less and be in a lower tax bracket in the future those deductions could come in handy.

Quote from @Surya S Kumaresan: Hello Folks,Hope 2025 is off to a great start for you all!

I did a search on the forums and insurance seems like it could be a major problem.Shouldn't be an issue at all.