Is it a terrible idea to buy an investment property that is appraised 25K under the contract price? 

Investment Info:

Mobile home buy & hold investment in Travelers Rest.

Purchase price: $18,750

Cash invested: $20,000

If you have read my other investment posts, you already know we struggle with ...

Investment Info:

Mobile home buy & hold investment in Travelers Rest.

Purchase price: $18,750

Cash invested: $20,000

If you have read my other investment posts, you already know we struggle with ...

This was due to the fact the property was in such terrible condition, we essentially had to tear it down and start over.

This was due to the fact the property was in such terrible condition, we essentially had to tear it down and start over.

The apartment was in terrible condition.

Might not be a terrible idea to withdraw the returns earnings too if you think you can get a better return on your cash than what you would lose from the penalty.

Kind of like and HR for living in the property, but more tenant support/resources kind of HR vs the policing layoff type we’re familiar with in corporate America (and of course, I’m not saying the companies’ HR department would play this dual role - that’d be terrible).  

Had a terrible experience from the Bureaucratic Practice by a local city building department.

I had a terrible experience with full service property managers, I sleep much better self-managing but there are certain things I'm just not willing to travel for.