Some lenders may request an appraisal fee, but be sure to do extra due diligence if anything feels sketchy or too good to be true. 

What are your thoughts on the pros/cons of making another principle payment with the extra cash from your roommates rather than using it to pay for the operating expenses and capital and living for free that way?

Have a handful of SFHs and want to keep adding. 

Step away from this nonsense.Unless she has a source of income to actually buy this, that she hasn't declared to the local housing authority, I will bet that she wants to use her Section 8 deposits to  you to purchase the house. and if she hasn't declared her extra income to section 8, then she's just defrauding the system.You can either say "no" directly to her, or just say that you still have a mortgage and you can't enter into a lease purchase agreement for at least another 12 years.

Nothing wrong with that, I have a student rental like that. i bought the house already converted, they enter into the kitchen, the dining room became the living room and the living room the bedroom. the house still had a perfect flow through it. that will be value added for you, turning a one bedroom into two.

I was getting lots of extended  family staying over for months and I pay the water bill on my multi's.My additional persons clause simply states that additional people that stay more than 10 days will be charged an extra $100\mo per person.

It is a D area.

I can't offer the same assistance as Alexander Felice, but I'm more than willing to be your local extra set of eyes and ears.

Good evening BP, I have a question on what kinds of contingency clauses could be put in a contract as a buyer?

I know a few such as financial terms, closing cost, home inspection and appliances. I'm having a proble...

It's hard enough to hold a job and take care of all the things in life but trying to manage a rental long distance with experience is hard enough without adding a lack of experience to it.