You mentioned it had been repaired in the past... what exactly did they do to repair it and was the repair actually permanent or just a "band-aid" solution?

It is a relatively new law and solution provided by some states.

@Cody Thayer Two easy solutions to your problem. 1) Refi into a 30 yr mortgage to lower your monthly overhead. 2) Self manage.

I would rather buy now than since the competition seems to have slowed down.Does anyone have a creative solution as to how I can come up with the money.

I would also recommend you have a good network of people wherever you are looking to invest to monitor your property for you and keep you updated on the progress - best of luck! 

Hey Jose,I can't lie and say that I know the best ways to leverage money; however, I don't think credit cards are the best solution due to the amount that you'd need for real-estate, the potential high interest rate, and possibly ruining your credit.

This could be a good solution if you need the tenants out quickly and if the tenants are not interested in your buyout offer.Finally, if the situation becomes more complicated or adversarial, you might have to pursue a formal eviction process.

I also listed on airbnb, temporary housing network, and ale solutions. 

Don't get me wrong; there are plenty of issues/problems/quirks that old houses have that new houses don't, and an old house can obviously have hidden problems and big repair/maintenance bills too...but, the point is: a brand new house is not a foolproof solution to repairs/maintenance (and in some cases, a brand new house can be a much bigger gamble than an older house).This is a particularly important lesson for inexperienced investors, who tend to be the most prone to "shiny object syndrome" (the tendency to let nice aesthetics distract from real, underlying issues).

Well @Ilya Ratner, good accounting is always a must.As for tech, there are a number of software solutions that can make things easier, but it still takes the owner to input the data.