I'm sorry to hear that Steven, happens all the time where extra costs pop up and no one wants to be stuck eating them.I wouldn't take that lying down.

Formal dining rooms are becoming less and less common; people tend to prefer the open-air concept of a kitchen that flows into a comfortable eating area.

Could have great rent escalations or not, you may have needed to provide some TI which will eat into your rate initially but provide higher rental income and longer term commitment from the tenant, or you could've walked into a fully operational property.

They will work , eat , watch some tv and sleep .  

Does the place have a lot of deferred maintenance that is going to eat it not hat NOI for the first few years?

If debt, make sure it's not too expensive or it may eat up your profits quickly as you will likely be holding for a while as a 2/1 (renting or resale).I think the area in general is probably better suited for rentals where you can do a lower end, but still quality, renovation (at least for the rowhomes / might be a little more margin on a single-family purchased at a low price).

-I am being financed through a hard money leader that with an interest rate of 12% for 70% ARV, which eats a very big chunk of my potential returns.

Seeing people eat nutritiously for me is fulfilling.

If we were beating her up over the commission, my guess is she might have to one of her other investors.I have also had our agent eat costs that might otherwise have gone to us.  

Of course it is set aside for anything damage deposits don't cover, and cap ex, though I'm leaning toward flipping every few years to avoid cap ex, as it will eat you alive if you hold forever.