I wasn't thrilled with the terms, but was willing to take my chances.

The only way this becomes good is appreciation, and to me that's a gamble.

We usually sell our foreclosure properties for a profit but thinking you could turn $500 into $80,000 on one deal is not investing it's gambling.

I'm no good with a hammer, not interested in flipping which seems too much like gambling at this point in my life.

If we ran it for a year and worst-case a renter who's unhappy with us attempting to raise/normalize rents reports the leaking roof, we could be stuck with MAJOR repairs that we can't yet afford, or who knows, a condemned building because there's mold in that roof/attic/walls that have been leaking.It's discouraging - we could walk away and take our $25k and go 20% down on a duplex that cash flows $300 a month, or we gamble on this place where the cash flow is approaching $1.5k per month after budgeting conservatively with the bigger pockets calculators. 

Hi @Tess Robinson,Absolutely, I would be thrilled to meet with you.

It's quite a gamble.

They rent solidly for $800-950/mo and realistically I could probably go higher but Im not interested in squeezing every single dollar out as Im more interested in quality of tenants and im already getting well over 1%/month so Im thrilled.

It also makes a HUGE assumption that you can access this gained equity through refi at the same rate as when you started the loan (highly unlikely and as I stated, math is math and statistics are statistics so why gamble on an unknown factor!).

-A big reason I am not thrilled about this deal is there is not much value to add.. the place does not need really need work.