Hey MattI’m one of those guys that had hangups when someone mentioned vinyl flooring because it raised images of that cheap, peeling laminate that was easily cut and invariably began pulling up, flaking and cracking.  

I don't see why he wouldn't try to raise that remaining $120k privately, or go back to the bank. 

She raises her voice now and tells me, "He did buy the home and he did move out. 

I was in the same position as you.Find the deals, create packages for those deals, then go and raise the money for those deals with your investors. 

I believe we could have gotten out of the deal in the very beginning if I truly bought a disaster, and we likely would have forfeited at least our $2,500 credit card hold, although Auction.com was never 100% clear about that.

Just because we put in marble counters and high end flooring does not mean you can raise rent 300 over market for the area right away.

With all that in mind, I would agree that having an option may allow a tenant to raise this objection.

I'd double check that, or expect your taxes to be raised dramatically during the next assessment

Investing in real estate can most definitely produce a good positive cash flow for you to never work again, if you play your cards right.

I did a flip in Baltimore where we raised roof to make a large open space.