Since it's an inheritance, there's probably some emotional attachment, and that's ok, too, but if you're going to flip it anyway, take a quick sale now and put that money with the cash you already have for another deal...

@Tim Soto - Congratulations on your new acquisition.Clearly, you demonstrated a methodical approach to this purchase, in that you knew the neighborhood and its potential, stayed calm when another buyer attempted to purchase property and failed, remained firm with your purchase ceiling, had dual funding plans and your to do list was ready to take action as the ink dried upon purchase.Thanks for taking the time to outline a step by step methodical approach to REI, without injecting emotions in the transaction.Good luck with this purchase and your future acquisitions.

Look at the facts without the rose (or green) colored glasses and base your decisions on facts and leave emotion out of the equasion.  

This will prepare you emotionally, educationally and [help] you network with other investors, lenders, Title agents, Data analysts, wholesalers, rehabbers, birddogs etc. 5) Network- introduce yourself and exchange cards/ flyers with others.

Best advice, read the legal terms; keep your emotions out of it; don't bid higher than necessary!

Now think about how the word it self even stirs emotions - failed -But in reality we all have to fail first, we've been failing since we attempted to walk as babies. 

anyway, i wonder how many of you have had to do an eviction and for those that have done multiple evictions, can  you please share how you deal with it emotionally/mentally?

I have rehabbed houses in TX before, and don't view this as an emotional process).Thank you!

Some sellers don't want to list a property because they do not want to deal with getting/keeping their house in show-ready condition, and have to deal with people constantly walking through their house.They may also dislike/distrust Realtors, or have a big sticking point with paying commissions.Sellers may also prefer to deal with investors because the property would not qualify for an FHA or conventional buyer due to the condition of the property.And some homeowners are trying to sell an inherited property, and just do not want to deal with the overwhelming/emotional task of dealing with listing a property, so they would rather sell quickly for a discount and be done with it, rather than drag it out.

The one thing I'd add is do not become emotionally attached to a property.