Thanks Mike that was extremely helpful!

Renters are extremely good at spotting a weasel and they will in short order treat you and your property accordingly.

Can and will your insurer raise your rates to that extreme?

This has taught me to be even more aggressive in purchase negotiation and extremely confident in my ARV before moving forward.

If you haven't already, you should really start investing some of your profits for retirement.I'm sure many here will take extreme exception with my comments but I can assure you well over 90% of the people here are not investors, they are small business owners and work in their small business each and every day.Oh, and as for a day job, I still have mine even though my investments have done very well over the last 30+ years.

I would feel easier spending my own money, but of course that means starting extremely small -- which means it would take longer to start making "real" money.

The guy is extremely unrealistic and will have trouble selling this property, especially since him and his wife are moving out of state soon, I believe he will realize this quickly.

The eviction process in DC is extremely long and tenants have tons of free legal resources available to them.

A mentor or coach will extremely advance your learning curve!

The likelihood of the second offer being real is extremely high.