So, while your doing the spackling, painting, and saving a few bucks, you're probably also breathing in massive amounts of toxic dust.

This is where you work to position yourself as "the best bang for the buck" - a little under market rent and, perhaps, with amenities your competition does not offer (say a dishwasher).You are far enough into the deal that, in your shoes, I would be obligated to verify and ensure it was not workable before pulling the plug {for the sake of reputation}.

@Clark Bradley - I'm glad to hear we've managed to help you save a few bucks here and there!

Spend a few hundred bucks or at the most $1K because a lot of the information I got from the gurus 10 years ago are information you can now get for free here in BP or in other websites (even Youtube videos).

I haven't just done this once or twice, but many times and it was never an issue for escrow, the buyer's lender, or my seller.Since you will only be paying for one escrow now, you might 'sweeten the deal' and offer your seller a few hundred bucks for the 'inconvenience.'

However, since many don't have significant cash reserves, that hundred bucks can easily be needed for some unforeseen future matter as well, meaning they may not really be getting that hundred bucks a door as they think. :)

And no foreclosure or short sale on their credit record.If you're asking "how can I make a buck" I would say "don't".

If that happens you have an illegal mortgage that could cost you big bucks civilly.

If you can I would consider getting a multi(3 units or more) depending on the market rents in your area, it could pay for most if not all of your living expenses and your could still have a few bucks left over.I did that for my first property and I'm now living rent free.

Any additional money that I pay (annual property taxes) gets added to matured unpaid principal balance at 10% and compounds monthly.