Don't mistake this for loosing sight of the number, just don't make it all about numbers.  

I like that thought, and yes, I stand to loose a profit if I don't do this and yes, the flip should work fine and a plan B is in place as well.

A PM won't see a board from the roof of a house that has come loose that could fall in a tenant and seriously injure them.

So I can make an offer like I'll give you $35,000 to over the papers so he doesn't loose all $70,000 after it forecloses and he walks away with $35 G.

Two side notes:  A)Realtor is representing both seller and buyer.B) I have a feasibility clause in the contract that loosely states: if the numbers do not work, I can cancel the contract.10Q in advance for your advice,Km

The problem now is not crazy demand due to loose lending, it is low supply due to no building.

A loose estimate (however not confirmed ) would be around $30-$40,000 to renovate the home and put in on the market for a buyer. 

However I'm not sure what to do with all the loose fill insulation in the attic.

LOLQuick fact 2 - the word 'mortgage' is derived from the word 'muerte' which loosely translates to 'til death'.  

Ben, I have doing this long enough to know that long distance investors will eventually loose owning cheap homes.