Thats not a bad price for the property.

Fortunately my tenant was in a bad place and needed a way out. 

Which on $7K upfront isn't bad, but if something goes wrong so does your profit.

Don’t throw good money at bad deals.

My bad. 

just a couple of reasons:No one can buy ALL the deals themselves.Many monetization feeds on a highly ranked site (book sales, pro membership, etc) Trust through notoriety can have a high return on investment (see M.I/oceanpointe for negative example)None of these are good or bad in and of themselves.

Over time of building a relationship with them, you'll hear the good, bad and ugly.I don't think it's smart to jump into any major commitment without a reasonably long period of relationship building and regular contact.I'm not a fan of those large national turn-key property providers marketing everywhere.

and what is your exit strategy if after all the screening you got trapped with a bad tetant ?

Is this a bad idea?

Hi Nikhil, I'm not expert on this kind of market but wanted to flag how bad the situation has now become regarding tax and rental properties if you are subject to UK tax.