Just for some extra money to later invest?

He required a $5,000 deposit and then a higher monthly payment with the "extra" applied to buying down the purchase price.If the buyer defaulted, he would keep the $5,000 deposit and he had the monthly payment that was higher than it would rent for.

We don't know your numbers, so can't say if it is worth it, but it probably isn't worth an extra $50K/unit, if it's an extra $50K spread across all 8 units...maybe.

Is there a way to figure out how much extra people charge for average properties in a good location vs  average location?

I recieved a judgement for 1400$ due march 31st and tenant leaves in 7 days or gets evicted with the verbal agreement she would sign a payment plan and leave the unit clean for giving her extra time as she had no where to go.

Now, I want security, independence, and some extra money would be nice.

My personal goal is loftier than that, with visions of passive income and accrued wealth we can use to ease our lives and give our children an extra hand up when they start out as adults.My general plan is to buy and hold within our city, rolling over all cash flow and refinancing when appropriate to increase our number of properties.

Also, we could use the extra cash flow to save for our next down payment for our next property.With respect to finding financing options for our first property, does anybody suggest a specific route to go?  

We will give you the extra dollar!!

Of course the better scenario if I get more than one under contract is give another flipper the deal...either make a little bit of extra on bringing them a good deal...or just hand it off as part of investing in good relationships.