Do they always do it.

How much profit at the end do you expect to realize and what time frame do you project to receive it?

The good news is that there are plenty of investors who would be interested in the property as-is and even more investors interested if:- The property is in an area they are familiar with- The property is in a desirable area- You are deep into the eviction process (it seems as though you are)- You can deliver 1 unit/floor vacant (this could happen before closing)That said, if you can keep it, I'd say do it.

Anyway, please feel free to do your own due diligence but it looks like we all got got.

I'm scared to purchase a second home but we have the funds to do so Do it!

How much weight do you give to the cash flow benefit of cheap debt when the property is priced above market?

It's possible that your tenants are using something like that and then bringing the stuff down to dry it.

If you want to do it yourself, be ready to answer text messages at 3 AM, solve problems within a 2 hour window, deal with contractors who aren’t able to “turn” a vacancy quick enough, and guests who want “instant” gratification.  

It will help them tremendously - IF they actually follow it and do it. 

Your other questions are better suited for an attorney to avoid misinformation.