While the neighborhood is considered Arbor hill, this area is not at all like the majority of Arbor Hill which I would never invest in due to how dangerous it is. 

Sale lease backs are dangerous if you have a legal issue in court.

Sure there are, and some markets are more favorable than others, but there are a lot fewer, all the while a many more wholesalers of varying abilities and levels of commitment have entered the field - increasing competition.Now that I've said my piece, I'll sit back and await the you're-too-negative reply posts.

Fewer moving parts, plus more savings.

:under contract is it worth moving forward and buying Well, only you can make that determination.It sounds you need to get educated QUICKLY on raising funds for your deals.You'll want to explore all options including partners, private lenders, maybe even hard-money if looks like you can increase the value and borrow some equity out then to pay them off.This is one of the dangers of "jumping in head first before learning how to swim".You can do it, but you'll be scrambling, drawing on all the resources you can find for knowledge, experience, etc.Drop me a note privately.

The only exception that applies to a home seller under the rules is someone who only “originates” 3 or fewer loans a year.Under TILA, any person who originates 2 or more mortgages referred to in subsection (aa) of this section in any 12 month period or any person who originates 1 or more such mortgages through a mortgage broker shall be considered to be a creditor for the purposes of this subchapter.

So should do you well over the long run, knowing that the price take a bit of a hit in the next downturn…  Maybe @Daniel Shepstone can chime in also.3 – Offers with no Financing Contingencies on FHA - ****DANGER DANGER!!

Some people want nicer neighborhoods believing they will have fewer problems and possible appreciation.

This is why bigger pockets can be dangerous.

The main thing to focus on is the long-term benefits of both options.TileSignificant bump in property value (cost is worth the gain in value)Better aestheticsSurroundLow maintenance (might have to re-caulk the edge every couple of years, but that's about it)Cheaper installFaster installBetter mitigation of water damage (fewer seams to fail and let water leak through, no tiles to crack)Since it sounds like your priority would be to have a workable bathroom that keeps water from where it doesn't belong, the surround sounds like your best bet.