And they essentially buy the property and then in 5 years, you refi and give them the down payment back.

It's a lesson I've seen play out repeatedly in my years managing a real estate.

I;ve done the corporate grind for 25 years - time to do something else ... :)I'm looking to do out of state investing (I feel CA is too over priced/out of my reach at this time). 

The residential lease market in Washington, DC, from January 2024 to January 2025 has experienced some changes:Units Listed: The number of units listed decreased by 78, a 15.92% decrease, from 490 to 412.Listed Median Price: The listed median price increased by $175, a 6.19% increase, from $2,825 to $3,000.Units Leased: The number of units leased decreased by 58, a 19.86% decrease, from 292 to 234.Sold Median Price: The sold median price increased by $100, a 3.51% increase, from $2,850 to $2,950.Summary: A decrease in units listed and leased indicates a reduction in supply and demand year over year.

If the insulation is in decent shape and not covered by combustible insulation, and not terribly overloaded, it might last many more years.

I'm NOW doing Rent-To-Own to sell off my mobile homes.  10K down.  12 years to pay. 

I'm almost 6 years married and on my third real estate deal.

If you have had it a few years I would imagine the value has increased substantially. 

I started a self directed IRA about 15 years ago, this particular deal  won't work due to the math and other things.

You end up being on the 10 year plan vs the 1-2 year plan.