So they really had no choice IMHO....Welcome to the landlord world I guess.....makes ya wonder why we do this sometimes, huh?

It's always a personal choice everyone has a different perspective.   

In the end, it is viewer’s choice to follow what they think is more reasonable.

The fear of unknown and the bad potentials, but then sh_t happens and ya remember that we got a choice to lay down and be done in by it or roll-up the sleeves and get to work and be a solution maker. 

@Ben LeybovichI think in the perfect world, new investors would spend enough time and energy learning how to analyze properties themselves, what the various calculations mean, etc.

I just wrote an offer for full asking price at 30 day close, with a contingency to extent at BUYERS choice for 30 more days if I don't get an favorable response on the electricity install costs.

I really can say that everything needs to be perfectly handled without any room for error.However, you do not need to go and study all aspects of Dodd/Frank, Safe Act, Senate Bill 43, the Property Code, the Finance Code, insurance law and all case law regarding wraps. 

Yes they can use a realtor of their choice.

So, you go over budget FAST.So, your Scope of Work (SOW) MUST be very specific as Mr Perez learned when contractor didn't put in new outlets.To "perfect" your SOW, suggest you walk the property with 3 contractors and ask them what needs to be done.

Remember when land buyers pick a target, they have TONS of work to do getting that property from dirt to payday, so they know their purchase choices, and they have a war chest usually stacked up ready to go.