In my market costs of sale hover around 7-8% for a broker and seller paid closing costs.So in your example.Front End Purchase Price: $118KShine:                                     $4KTotal Investment:                $122KBack End Sale Price:          $130KCost of Sale:                         $10KNet Proceeds From Sale     $120KNet Loss                                 $2KThere is simply little to no margin in the deal you describe.

I would continue your quest for more education on contracts.Even in the scenario you described (and i admit if you are doing cost plus it is designed to have heavy owner involvement) you would still have a scope of work.

@John Thedford  as Bill described its an assignment that is recorded.  

When I was house hacking, the entrance, bath and bed were all on a different floor.... so there was kind of an unspoken rule that the room mate stayed downstairs after hours.If your house is not set up well, like I described, you're on your own as to your level of privacy.On to the money part.... depending on the condition of the place right now.... don't bother doing the flooring and paint till right before you leave... that way it is all brand new and you should be able to attract a higher class of tenants.... also, if you can get it done quickly, right before you move out... or maybe after, you won't be living in a mess.

Same as I described above unless the agent does not value his license and is willing to lose it.

My dilemma described below is actually what got me interested in real estate investing.

Here is a link to the article that describes this new law as well as a couple others that went into effect July 1st.New Florida Real Estate Laws

@Christian Beebe - From what you describe it sounds like you are in a position that I would classify as "unbankable."  

@John Mattox I agree with what you describe.

I even looked at the FBI site under loan scams which describes a similar situation.