Time being of the essence requires both parties to perform thier duties and responsibilities in a timely manner and when neither party is at fault for any delay, any monies expended by either party are the expense to the party as were agreed.

Next tenants may not be any better.I prefer side by side duplexes, up and downs seem to have more conflict with noise with tenants.I wouldn't sub the utilities, because our utility companies expend way too much credit to tenants, then expect us to pay it when they bail.

Ideally I'd like to avoid any language that would require extensive record keeping of hours or wages expended, though I will concede that's probably the most responsible solution.  

There are other models, like lease-purchase, owner financing, and vacation rental, that offer more sources of income (like non-refundable earnest money and down payment funds) or just more income for the same effort your expending now.BP is the perfect place to learn about these other models.

@Joshua Howaniec I introduce my self as an active multifamily investor that is seeking to expend the portfolio in the market place. 

I'm a Canadian from Montreal ,QC and I'm looking to JV with an American to buy more SFH in the Mid-West.I currently own 10 properties in Pittsburgh but I'm looking to expends and buy more in the next years to come.

Any money I make now and after acquiring my degree will be expendable and I can't think of a more exciting path to follow than REI.Extatic to begin my journey in NJ but ultimately would love to begin investing in the Charlotte, NC area.Looking forward to making new friends and connecting with you guys along the way!

Figure out what type of properties you'd like to target, then expend all your energy trying to acquire those properties, renovating them, putting them back on the market as quickly as possible, then repeat.

@Michael Randle CapEx (Capital Expenditures) are those costs which, when incurred, will be amortized over a fixed period of years (Roof, new electrical, plumbing, windows), where as repairs, as @David Faulkner pointed out, are minor and are expended in the year they occurred (leaky faucet, new garbage disposal, clogged sink/toilet, one broken window, etc).

I use redfin myself (have access to MLS as im an agent as well)Re: Foreclosures - I would say that these deals can take some time to work through and maybe the agent doesn't want to expend that effort.