@Justin Murray Welcome to the site !

JD Thanks for the reply, I'm aware of the inspection/repair contingency in terms of backing out of the deal if rehab costs are too much, but would that allow me to be guarded against claims I or one of the contractors damaged something while on site?

Also, do some research on this site on Lease Options as that might get you a tenant buyer, who's willing to pay the price for maybe having a 3 year option.

Naturally, I have been reading a lot about real estate investing and have been just a consumer on this site for years.

@Manuel Angeles I agree with Nghi Le in his statement above.Although you have experience on the job site (which may give you an advantage on tough rehab projects) most lenders want to see the number of successful sales you've directly been associated with (meaning on title to some extent).

Hello @Ben Minnich, welcome to the site!

Thats a far better strategy for the long term as well as much easier to manage as you will be on site instead of 9 hours away.

Welcome to the site.  

We added on site laundry and redid all the landscaping.Doing all this allowed us to increase rents 30%+, which means the three rented units cover the PITI for the property so we have no housing costs.

I wouldnt waste time on these sites.