No but keep track of those repairs as it will add to your cost basis when you go to sell it and have to pay capital gains.

By the time it was all over, the court fees, attorney fees ate up the entire EMD and then some --- this seller never intended to sell the house. 

I have seen it too many times where an investor will buy an older property or even a new build, they net cashflow similar to you for a year ($100-$200 per month) and then a $5,000 repair or insurance/tax hike here hits them and it's a loss - they either get forced to sell or are majorly setback and unmotivated. 

I just heard a strategy of selling points instead of buying points.

And even if I do not get into the renting business I can make some profit if I decide to sell the property at some point.

@Susana Alcorta, Howdy, you have a lot to consider, let me give you one man's opinion.Let's tackle the selling the home or not in Pflugerville.  1.  

Successfully acquiring, renovating, and selling multiple distressed properties can significantly boost your returns, but it also comes with its own set of challenges.

And even if I do not get into the renting business I can make some profit if I decide to sell the property at some point.

Any development work they've done on the property also becomes your property.If the property becomes yours, you could try to sell it back to them quickly and below market for a nice profit.

I'd be happy to help and have nothing to sell if you think that I can be a resource.