The issue I'm seeing is a note about foundation repair on a property has flooded.

Do you mean allowing tenant to call a repair person or contractor directly if there is a problem? 

I think the issue I’m having is based on the numbers if I do a cash out of $125,000 which is what I have into the unit and amortize it over 15 years I’m breaking even after vacancy and repair calculations.

Getting a treatment and some minor repair is normal. 

We try to religiously stay with a max of 70% minus cost of repairs, but most people are having a pretty hard time acquiring such deals these days.

My background is a GC vendor for managements in NYC, mostly roofing, exterior renovation, sidewalk repair, and some interior renovation (bathrooms & kitchens).

Then make any repairs such as anything that would cause leaks and progress into water damage.

The first Camaro's repair bill was why she needed the second loan.I would like to say I would give the old couple a month and then evict but I would probably end up giving them longer. 

If I purchase even at full price the value after repairs is around $125k.I plan to use another rental I have in the same neighborhood (worth $150k) as collateral for the down payment.

I explained to the broker, the option is price is higher than the appraised value, we got a higher deposit because of the option, and we are not responsible for maintenance and repairs because of the option to purchase.