They will work out to good investments but compared to my MF holdings (about 1,100 units), they are incredibly more hands on and time intensive, and don't cash flow as well.

I hope other landlords do the right thing and work out payment issues if they arise.

After some thought, we figured we would offer to just buy it from him, with the idea in mind that we could supplement much of our mortgage with the detached guest house.After lots of conversations with a lender, I was pre-approved for the ~$300K the owner wants, and I was able to work out a Conventional loan with 5% down, owners pays 3% towards closing costs (he’s a good guy and agreed).

It’ll all work out.

The demo and trash out saves money and it's a fun workout. 

The problem is im not sure if that is a great idea and if it will work out.

You have to run each tenant through their paces to see if there is a real need for a workout or not.Investors are buying NNN deals.

I do have a good network of people here I will be contracting the work out to but anything I can do on my own to cut cost I am more then happy to do.

I'll even review any existing surveys for you at no charge.I hope things work out with the neighbor!

I was hoping to put that money down on the new place to lower my monthly mortgage payment (paying PMI with current mortgage), but the timing of the sale couldn't work out.