I can't have a re-inspection done yet, because the tenant is delinquent in her payments, so the only way to move forward, it seems, is to have her evicted now.

Does this seem like a legit offer or am i missing anything here?

Rolan, I would agree that paying 40% seems excessive given the fact that you and your wife are taking the most risk.

Everything here seems  fuzzy and insure.

That used to be a good place to find good buyers but now it does not seem that way especially with how hard it is for the sub 300k buyers. 

Seems about right, I ran the scenario on a DSCR and I am at a 8.49% on that as well for a DSCR loan, 30 years fixed

Best, ChristineHello, @Christine James I am still learning the real estate industry and if 55K is enough to land my first property my goal is to connect with other investors and partner up seems the easiest in real estate.  

The inherited property seems like a valuable opportunity for you to venture into real estate investing.Considering your interest in small multifamily properties for long-term cash flow, that's a strategic approach.

But if you have this in writing from the builder that you have received a waterproof basement and it's not waterproof, it seems to me you should be knocking on the builder's door to fix that problem.

It seems like you would want your property be close to amenities since it seems like you would trade the comfort of having your own space to being in a better area for a cheaper price but I could be wrong.