Aside from downpayment, you want to have a solid emergency fund in place, something that can cover unexpected repairs, vacancies, or any other random costs that pop up.I’d also recommend saving more than you think you'll need and keeping a close eye on your expenses.

An experienced agent would have worked with the seller to do the repairs before they sold, and captured the forced equity in the sale.

Conducting inspections and due diligence on the condition of a property to derive realistic estimates for repairs is still the key.

And if it had flooded it would be more than $5,000 for the repairs.

However, our tenant turned out to be problematic—late payments, issues that led to an eviction, and additional repair costs before we could relist the property for sale.Now, after months of making mortgage payments out of pocket, we finally have an offer.

.- Collect Tax Certificate to verify Property Taxes are Paid- Get a current statement from the seller to verify the existing balance, if they are delinquent, you can get the bank on the phone to verify the amount to make the loan current.- Review the loan documents, there is most likely a due on sale clause, which is why you won't find a title company to process these for you.

This could make the sale more appealing by solving a logistical challenge for the landlord.Things to Keep in MindUnderwrite Conservatively: Make sure you account for all costs, including property taxes, maintenance, and potential repairs.

What I disagree with is VRBO's blanketed take on pricing when it comes from a 3rd Party, which is something that was mentioned on the phone today. 

Even if you break even, you will lose money every month it sits vacant, when you need repairs, property management, etc.

Would you be open to chatting on the phone ?