Real Estate is definitely not just a "numbers analysis" and you are definitely thinking about things the right way - but I think a good next step for you would be to spend some time putting a lot of this stuff into a (very) basic financial model/spreadsheets mapping out all the potential costs and estimates on effect (effect on value, on exit, different scenarios) - I think getting started with that framework should help with these decisions immensely

Thanks, Kyser Some HOAs have transfer costs.

If you have $50k to invest then you will probably be looking at properties in the mid-to-high $100s (assuming you're putting 20% down + closing costs and a little cushion).

My advice is to buckle down and save enough for down payment, closing costs, and emergency/rehab fund before you make another investment.

I’m gaining knowledge of costs to replace certain things in the house.

If you were to wait until the lease ends, can you afford to carry the costs of the property until sold?

All that matters is what you net after selling costs minus what you paid for it. . 

It would also lessen my out--of-pocket on either hard money costs or cash I spend, so I'd have more to work with to acquire more properties.

Partner Driven financed the Finsbury Drive deal using its own capital, covering the $350,000 purchase price and $16,000 in renovation costs.

Option 1-sell it back to her ie tell her you want all of the money back within 72 hours PLUS all of the costs you incurred or will incur (eg mortgage penalty) as a result of her not moving or you will sue her.