We are just wrapping up on the rehab and plan to rent it out in about a month.  

I rode around and managed to find a few people working on rehabs and found out who they were renting to, rents they were getting, and one guy was kind enough to walk me through his rehab project.

This can be very expensive and is usually the worst choice because you can't justify the cost.2.

The intent to buy, rehab and sell immediately after it is rehabbed.There is no intent to hold it as a long-term investment2.

Don't try to make rehabbing a science. 

The lender tacks on a lot of costs as the mortgage becomes delinquent and goes to foreclosure.

I live in miami florida now and I moved for larger scale developments here because of the net migration but columbus ohio the economics allow for that. existing inventory has been tougher and at the pricing inc columbus you may as well build new because you can build new less than replacement costs in a lot of the markets downtown. it's about being in adjacent downtown neighborhoods where property values and rents are higher. land values are the biggest driver of how well you can buy land to develop followed by permitted uses or rezoning applications. 

Properties that need rehab or ALOT of work to even be presented as a decent property someone would want to stay at.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

Any opinions out there on if I would have any legal right to get the earnest money returned to me or should I just be happy he is willing to let me out of the contract and consider the $2,000 em cost of doing business?