@Carmen Assang It'll come down to whether the cost of an eviction (both lost rent + attorney fees) outweighs the cost of eating 1 month of rent.

Are you going to pay for the seller’s realtor, or in this case his other selling costs?

Feel free to shoot me a message or even a text! 

Whats the cost of the mold remediation?

I rented it for 1 year with minimal issues.In 2023, tenants moved out and I put in $5k in turnover costs.

First time poster with a 100% LTV deal below a lender's cost of funds for a Fannie/Freddie deal.

Even if you have enough for a down payment and closing costs, there is always a chance the furnace or AC goes out the first time you try to turn it on (typically this would be caught by an inspector), or some major damage happens that insurance doesn't cover.  

The idea is to HELP offset your cost of living, not totally replace it.

OR you'd have to do 2 separate transactions and incur 2 sets of closing costs/ transactional costs. i dont think its a bad play, a lot of people leverage one to help them expand to the next. another challenge you will have, though, is pulling something small like $50k out. most lenders rn have a $100k min. you might be able to find less but then fees/ points will be a little excessive. 

Profitability varies based on location, seasonality, additional costs, occupancy rates, and reality checks.