Some of those that you consider as competition might be nice to you.Always do the math analysis and try to look at the prospective property before you make an offer or at least have a clause in the sales contract that allows you some time (probably about 15 days) to make a detailed inspection and possibly back out of the deal without a penalty that will hurt you too much.  

I figured that was worth the extra cost.   

I've never rented a house, only apartments before I bought my first and only house.Is it so commonly known who pays which utilities that landlords don't bother listing that detail?

Giving me an extra 3% equity off the top and reducing my necessary cash to $7,000.I will rent the property to them at 11% of the selling price for as long as they need.

@Jay Hinrichs can you explain in a bit of detail why 30% equity is not enough to ensure the return of your capital?  

I doubt they're as detailed as true MV appraisal w/ like kind/quality comps, but would it be fair to say that its usually in the ball park or is that a stretch? 

If you would more details or want to setup a time to talk just let me know.

What is you plan in more detail?

If you are using hard money you need to budget for the points and fees as well as traditional third party closing fees.Repairs: The money it is going to take you to rehab the property plus an extra 10% of estimated repair costs to account for unexpected repairs.Holdings Costs: Here is where a lot of investors get tripped up.

Let me know if you want to chat about that house in more detail.