Great idea to get involved with RE investing early and reap the benefits of compounding appreciation, as well as cash flow.I'm a Retired USAF Officer & my Son is Retired Marine (Class of 91). 28 Years experience in Real Estate Sales & Management.

Do you have an idea of what the cap rates are for houses that are in the $60K price range in Cincinnati?

We have no idea when this inspection will take place.

However at this point you can:1) Fight it in court (Which will not be done in 28 days)2) Pay him the 8K3) Settle for less than 8K4) Threaten with a lawyerAny other ideas?

If this isn't what you thought of when the idea of REI popped into your mind...well...RUN.  

------------I have no idea if my sarcastic scenario will play out but I do know that things like interest rates, availability of capital, rent rates, jobs that allow you to qualify for a mortgage, etc. aren't static.

Happy to talk to you sometime and throw some ideas around :) 

@Stephen Smith, getting started with education is always a good idea.

We are very active in the DFW area in apt syndications if you want to start there folks can give you some ideas.  

Rent in my area is usually around a $1/ per sq/ft.The idea of very low maintenance and a home warranty is appealing to me.