Instead of just letting it rot and getting nothing for it.

House had the interior repainted and recarpeted.Listing Price: $290,000Offer accepted at: $290,000 + $5k credit + $2,600 loan creditARV: UnknownHolding cost: Unknown how long repairs will take.3% closing cost - $7,600 credit = $1,100Gross Income: $2,800 - 5% vacancy = $2,660FHA @ 3.5% down ($10,150), 3.5% interest rate + $196 MIP = $1,429 PI+MIP.Rehab (Dry rot removal, 2 piers in foundation need replacement and cracks in foundation, add kitchen to studio): $25,000 - I’m still not 100% sure of this cost.Expenses: $280 (10% CapEx + Maintenance) + $302 for property tax + $260 (water, sewer, garbage) + $50 for pest control every other month + $100 house insurance = $992Cash flow = $239/moCash @ closing ($25k + $10,150 + $1,100) = $36,250Cash on cash ROI = 7.91%Your opinions are welcome about my first home purchase.

- make sure your guy has ample skin in the game, meaning, lots of his own cash to lose...Suggest you do a few dry runs, get to know the process, develop a legal team (and mind-set if you have to foreclose), define potential pitfalls better before compromising on a nice chunk of six figure $$$.

If I listened to DR I would have significantly less net worth.

Buy a drying rack and a clothesline.

They found both subterranean and dry wood termites during inspection, at least evidence of, but no actual termites.  

My broker said STR funds are drying up. 

Can you imagine how quickly those states would dry up if hit with a drought or the electrical grid had problems and people couldn't run their A/C?

We are both recently divorced and without getting into a sob story ( nobody likes a whiner), I can tell you that we were both left high and dry.

When the cash flow dries up, they will pull stakes and move on to the next get-rich-quick scheme and leave the Landlord hanging.