We choose to manage our clients' entire portfolio (as long as it's in our service area), regardless of any of their properties being in less-desirable areas.  

If not for the whole price then perhaps some % that would reduce your high interest payments.You can give the seller 2 offers to choose from! 

Hopefully this will clear things up:You are correct with your understanding that you can't write off any costs related to inventory (the house) - whether that be the cost of the house, or items to improve the inventory (like lumber, paint, contractors, other flipping expenses).However, if the cost does not relate to the purchase or improvement of inventory (the house), it can be written off as operating costs, as you noted.

B) Do I paint half the fence black - This would mean that I have 2/5ths of the fence left.C) Try and negotiate a new fence in the contract of the sale and with the builder as he will probably be building a new fence. 

-To be competitive in the resale market, both units need:  full kitchen and bath remodel; new flooring; new paint; new window fixtures; some / all new internal doors; popcorn ceiling scrape and paint; new light fixtures; likely new water heaters.My experience tells me that each unit can be fully remodeled for between $20k-$30k.Seller says that each can be fully renovated and be market-competitive with only $5k. 

Some choose a different path because that is their passion and they have different values. 

Yes that is their job and they can charge you anything they want for that job, and you are free to choose to hire them or not. 

If you only have $83k to invest, that's not going to get you into many deals, so you're not going to have a lot to choose from.

@Alex Deacon I agree wholeheartedly about being careful with choosing Insurance. 

You can choose to structure this as a second mortgage, debt or other form of lending with the promised return structured as a debt payment.