If you have one extra dollar that you don't need to live on, it belongs to the former tenant.

It certainly would be a plus to get the extra time added on for repairs without making payments on the carry back.

An extra bonus is they will let me refinance as soon as the rehab is done to get my cash back out of properties and go to the next deal.So I would encourage you to find a local/ regional bank that will do the conventional mortgages to start with and then possibly switch you to portfolio loans.

I don't do much with it at all but I'm thinking I want to use it to make a little extra cash to get myself out of some dumb debt.

A lot of them apparently take advantage of new investors, so you really need to do extra due diligence when working with them.

But the people inquiring with me were either newbies or people just looking for a little extra cash flow.

Used to you could sue and also get extra damages and double dip but many contracts took that out to where you select one or the other meaning to sue or accept liquidated damages of a specified amount.Maybe start a little higher and then go down in what you will accept to go away for a contract termination fee etc.No legal advice

I highly recommend you read this thread:http://www.biggerpockets.com/forums/93/topics/58383-the-truth-about-wholesaling-

I'm starting to think the extra $100 a month isn't worth the stress of waiting for rent towards the end of the month.What are your thoughts?

We bought 1 property for $15,000 and flipped it from top to bottom for a total investment of $43,000 We have also bought several in the price range you are looking at and been able to rent them with very little extra cost involved.