This could lead to a future event that optionee comes up and buy my property at a stipulated price.Currently, I have heard a few things:- Title company: they say there have been a few transactions after this Option, there should be no issue, but this is not covered by insurance- an unpaid legal advice from a local lawyer: this is a defected title, should cancel the purchase- Realtor: we will try to remove this, but this is not an important issue- Realtor friends: No.

@David Spencer I would definitely suggest getting a 3 or 4 unit place, where you can still get owner occupied financing as well as potentially cover your expenses with rental income.

So how do you know that your projected $25K Rehab will cover every possible CapEx item.  

Your stories will help educate and prepare other investors on this site for what to watch out for when they have tenants or screen property managers.  

Roman covered the typical broker fee. 

I handled the outstanding bills after making sure the bills amount and get the sellers to also put in some money to cover around 40%.

If you interview for firms confirm if their insurance covers property management. 

I am not going into this with no bank acct to cover these unforseen costs.

Bought a single screen theater in a small town and flipped it a year later for 50x.

There is a clause in the HOA insurance that will cover pipe repair and replacement if the building is declared condemned by the city due to water-related issues.