Otherwise, I would start with pulling out the equity from my other property or selling it in order to get more funds.Maybe I'm just in way over my head.

-If you have any agent contacts, they can easily pull property reports that will have most of that information on it.

Hold it long enough to refinance based on a fully occupied worth of NOI and I bet you’ll pull out more than the total cost and still have a cash flowing asset.

I have a template i pulled off the internet. i suppose i should have it looked at by an attorney to ensure it affords me all the legal protection i need.

When I pulled the information for the property there are no structures assessed, however there is a very old house on the property (in terrible shape).

I would probably pull it off the market and let it sit vacant until the markets improve.

If you want off market, pull lists of multi owners in Springs and mail or cold call.

@Brian Ellis if its just one burner , just pull it out and buy a new one at home depot .

Are they flexible at all or an i risking them pulling the contract and reopening the house? 

I'm just starting out and I'm looking for some opinions from experienced investors -Q: I have $40k to invest (can pull out as a 401k loan), should I invest this now or wait a year when I'll have a total of $80k to invest with?