By changing the shingles on the roof and a fresh coat of paint on the outside & the home was sold.

If it's owner finance try to negotiate a few months of debt service for free.This will give you time to turn over the property and fix the problems and increase cash flow until it's stabilized.If an owner is desperate enough you would be surprised at what they will agree to.I can tell you if the owner is slow to respond for request for info than the situation is probably WORSE then they are reporting initially.They want to sugar coat it so you don't run away.Many sellers get a fantasy that if they sugar coat it and they make it to closing then they can get lucky and get close to the price they want and not take a blood bath.Keep the seller engaged but tell them you can only pay XXXX.When they say but this property generates Y then say "I asked for you to provide info which you gave no info or PARTIAL info only.Since I can't fully validate what you are telling me with complete and hard data I have to price in the risk for the unknown"This will force them to provide the data or come clean with other problems.You tell them I am still interested but not at that price with the problems listed.If they balk give them your card and wait.Investing is like a relationship.Easy to get into but very hard to get out of and usually it takes longer than expected and is really painful.For eviction I would take a day and go to your local eviction court.You can learn by listening to the tenants and landlords go at it and what the judge thinks.What I learned is that I thought "Have my day in court and be real specific as to why I am evicting them etc."

Don't expect anyone to sugar coat your situation.

I believe it is some sort of powder substance that they coat surfaces with.

Woke up, fell out of bedDragged a comb across my headFound my way downstairs and drank a cupAnd looking up I noticed I was lateFound my coat and grabbed my hatMade the bus in seconds flatFound my way upstairs and had a smokeSomebody spoke and I went into a dreamRead more: Beatles - A Day In The Life Lyrics | MetroLyrics

We have decided on our plan, just waiting on an architect to draw this up.   2 of the bedrooms have a coat closet as well as the regular closet(I guess because it was built in the 20's) so we decided to take the coat closet from middle bedroom and a little of normal closet in back bedroom to add extra space in our only bathroom.  

(Estimating 5K a month, any thing else is a sugar coating).

Find some broken furniture on the side of the road or something old and tired at a discounted price from a thrift store, throw some screws in it, some hardware, a coat of paint and sell it for $200.

@Chris Morey The 50% figure must have been referring to short-term (vacation) rental management - that can often be between 30-50%, but is a whole different animal than long term management where 10% is standard.

They are REAL #2 3/4" x 3 1/4" Red Oak with Jacobean finish & 3 coats of Semi Gloss Poly...