If anything buy a dumper and force equity by rehabbing it.There are a multitude of strategies you can use.

The minor slowdown in the stock market is already impacting the housing market as it enters the slower fall and winter season.I am still a strong advocate of purchasing investment rental properties in the Right markets, at the Right time, at the Right price; I know what you are thinking “Gregg this is a no brainer with any investment.”

I just setup a meeting with a CPA to force myself to take a step forward thanks to your post.  

In the meantime, I’m ready to start on projects here.Quick background: I’m currently an insurance property adjuster, (less than a year), I was a project manager for a paving company, and I’m an Air Force Reservist. 

I really love the positive impact that I've been able to have on my community and look forward to continually making our communities better as well as being able to make some money!  

If you dive into REI'ing and do your homework you too can be a dominate force in your area.

Here are the final stats (not sure if this will copy and paste correctly): Purchase Info Square Feet (2 Units) 2,492 Purchase Price $165,000 Initial Cash Invested $49,727 Income Analysis Monthly Annual Net Operating Income $1,032/mo $12,387/annually Cash Flow $414/mo  $4,973/annually Financial Metrics Cap Rate (Purchase Price) 7.5% Cash on Cash Return (Year 1) 10.0% Internal Rate of Return (Year 20) 16.9% On the land lording side, I was forced into a crash course when I had to kick out one of the tenants due to non-payment of rent.

All of those things will impact the other hurdle you will have to clear which will be the DSCR (Debt Service Coverage Ratio).

Ask if you can renegotiate but it is a legally binding contract so you can be forced to pay.

This type of giving, in my view, is a great way for those of us still working towards financial freedom to start by donating our time, which can have far greater impact than our money.