I knew what repairs needed to be made (minimal cosmetic), and I knew that the expenses would be 45% to 50% once I got the building stabilized.

In Raleigh we had quite a run in 2003 where we would buy a "lightly worn" property ($63K), fix it up to retail condition to minimize maintenance ($14K), rent it ($900/month), then refinance it with a new mortgage ($77K.)

Its the easiest way to minimize your risk in a transaction.

At the time, it needed minimal amount of work(some paint, clean-up, there was a few tiles missing in the bathroom, but he had it).

If they put up earnest money (which I would recommend not doing or putting down a minimal amount) then you would get it back IF you specified that in your contract (which I would recommend specifying it that way if you do put up earnest money).

Take $3k for the 2nd, 6% for commissions, and minimal closing costs, and you're passing their "max".

You should also pay down the mortgage at least a year before sale to minimize any potential taxes.

If it's more than just a minimal job, then I'd move on to the next contractor.

Hello,Well I wanted to try to minimize our (my brother and I) situation in the subject area.

My point was not about avoiding risk but minimizing it.