You now have about $12K invested in the property, if you include closing costs on the loan.You rent the place for $1050/month, and assuming an 8.5% vacancy rate (a month a year) and expenses of 40% of net income (a little low, but okay since you just rehabbed), you should see the following returns:- $40,000 in total equity created from the property ($120K valuation minus $80K loan)- Year 1 Cash flow: $862- Year 1 Equity Accrual from Payments: $894- Cash-on-Cash Return: 7.43% (not including equity generated by rehab)- Total Return: 15.14% (not incl. rehab equity or tax benefits, which are investor dependent)- Total Return Including Equity Generated by Rehab: 347%If you choose to keep the property for longer than a year, your total return will obviously drop, but you're still receiving nearly $1000 a year in cash flow, $1000 a year in equity, and still have $40K in equity generated by the rehab.Rinse and repeat...

With a small budget, you should not be trying to create a bunch of campaigns and ad groups cause it doesn't result in any monetary benefit.

She also seems like a possible motivated seller since she is letting the property just sit there without much benefit.

If you are lucky, and/or control your expenses as much as possible, you reduce that 50% in reality and greatly benefit!

If you want me to take more risk, then I get a lower sales price on the option.It has taken me a long time to understand all the benefits to the home owner, but now I know and they love the ML as well.

Here is my understanding, although I am not an attorney.You only benefit from the homestead exemption if you currently own the house when you file.

So even if not practically useful, I get the degree/safety net with minimal fuss and am able to get serious with commercial investment that much faster.Accounting has the obvious benefit of me being able to handle my own books.

You may find you end up giving that money you tried to save to the buyer anyway.I could go on and on about the benefits of a good real estate agent, especially in the current market.

This would actually have been to their benefit as they would have known sooner rather than later that it was back on the HOA's liability.

Learn from it and benefit in the future.