Personally, as long as my expense - including the HOA fee, is acceptable, I am good with it. 

Does $2,400 include all expenses?

Thus far, my experience in real estate includes helping to renovate his first buy and hold property as well as just shy of a hundred BP Podcasts and a smattering of other REI research!

There are many on here (myself included) who are happy to share experience.

You could spell it out in the P&S that the landlord is to continue with the eviction (including paying for it) and then you close when it is over and done.

Would including an agreement in escrow to deed the property back in case of default be sufficient recourse?

He said hd/lowes can sometimes beat him on the carpet + install initial price, but where they get you is the "Specialty Items" like tack strips and transitions that aren't included and are grossly overpriced.

I've been interested in real estate investing(particularly buy and hold for cash flow) for some time, but always been hesitant to jump in.I've read numerous books, listened to almost 100 BP podcasts, been to some local REIA meetings, but I've yet to pull the trigger on anything.

Right now, I'm absorbing any information I can pertaining to the field of real estate investing, including podcasts, blogs, books, and articles. 

Your plumbing, electrical, HVAC (includes all mechanicals) can only be pulled by a Master.