You can also ask for a loan extension which you should do.  

If you are using a standard CA sales agreement, you probably have your loan contingency in place still.Your realtor should be working on asking for an extension to buy you time.

We learned now to really carefully look at utilities before buying a property.

Rental income $14,400/year, taxes $2900, Ins $504, utilities $700.BRRRR- cashed out $60,000 and bought the other half last month, $40,000.

Account for utilities.

@Jason Graveshttps://www.kcur.org/post/kansas-city-streetcar-extension-plan-umkc-wins-key-support-federal-agency#stream/0

Purchase price: $44,501 Cash invested: $13,300 Sale price: $129,900 Quick flip, rehab time was 3 weeks, just needed clean out, new flooring on first floor and carpeting through stairs and 2nd floor, Property was built in 95 and has a full basement with French drain and newer utilities.

They utilize the services of an underlying custodian for certain fiduciary services. 

First thing you want to do is get very familiar with their existing agreement (is it month to month, who paid a security deposit, who pays the utilities, etc.).

John it doesn't change the equation. like i said it still doesn't change the fact that you have 180K of dead equity in your primary resident. it's great that you got it for half the price, but you have value in the house that is just sitting there and you can't utilize until you either sell the house or refinance it.