Much of that was the surprises,  but a portion was the extra time and effort it took to figure out some of the new things were were undertaking (like the floating subfloor).The more painful bit was the length of time the unit was off-line - almost 6-months and the loss of revenue that goes along with that.  

Another approach, as the property badly needs a new roof, exterior paint, fencing, etc. is to undertake that work now, if they won't relocate - keeping in mind the right to quiet enjoyment.

In a Subject-To transaction, not only is the mortgage holder in a lending position but the seller is by agreement, they are providing the use of funds, as a lender, by selecting you to undertake the obligation.

Such damages may include but are not limited to termite damage, dry rot, mold, deterioration, decomposition and/or threatening structural issues discovered during the course of this project"That should give you some insight as to what you may expect as you move through an undertaking such as you are describing.

This sounds like a fairly major undertaking.

Mistakes are part of life and the rate of mistakes increases anytime we undertake a new venture. 

Along with any risky undertaking comes a measure of doubt, and I battled with monkeys in my head concerning what my niche would be.

It's also great to see someone undertake a new endeavor and be successful at it.I'd like to follow in those footsteps, though more on a part-time basis.

What good paying or entrepreneurial endeavour is easy to undertake?

I came across this brilliant strategy and thought I would share it.http://needwant.com/p/buying-apartment-airbnb/basically, this guy used the calendar scheduler on airbnb to find markets that have cheap apartments and lots of demand.He bought an apartment, and rented it out on AirBNB, ...Here are his numbers...Cost of apartment: $40,000Cost of redecorating and furnishings: $10,000RevenueNovember 2012 – November 2013: $19,613Average monthly revenue: $1,634Rough monthly profit: $1,134 (after cleaning, bills and other expenses)Yearly profit: $13,608