We got a second opinion but that company wanted to do even more work basically gutting and replacing every supporting beam in the basement and was quoted over $40k.

If so, sounds great -but the reality is that this means they are only going to list it on their website and maybe Zillow, but not on any MLS so other agents can see it and bring prospects (because agents expect 50% of one month of rent to do this!).

@Chetan Malik sounds like you have Class C and D properties.We manage Class C in Detroit, but do our best to stay away from Class D.Class C for us, goes down to a 560 credit score.

This sounds really great.

@Steve Vaughan Thanks, sounds like you're doing great yourself, so keep it up!

The seller credit sounds reasonably--I wouldn't let it hold up the deal if you really want the home. 

Hello Rick,It sounds like you have an interesting opportunity with a property under contract in a small town near Corpus Christi.

Is this idea as crazy as it sounds?

That sounds frustrating!

Jumping into real estate investment, especially at such a thoughtful and exciting time in your lives with a new baby, sounds like a great move, especially with the equity you have available through your HELOC.