I opened up the STR business a year ago, August '20, so my experience is limited compared to others.....I can say however that even with the Covid hysteria still rampant at that time, we had no issues.

If I had no tenets I could swing the mortgage, but I'd be eating Ramen.

I am also guessing that the original contract had no provision for you to be able to push back the closing date.

I had no idea I could use the VA loan twice!

So between the value add and the appreciation we have extracted all of our investment out of every property we own except for the one purchased 7 months ago (which had no value add, but was ~20% below retail).If I can purchase a property and 1 year later have no investment trapped in the property, I am perfectly fine with zero initial cash flow. 

I had no idea that was the case in Texas, but that makes sense. 

I know that sounds rudimentary and borderline insulting, but when I was in college, I had no clue how anything worked beyond turning on a light switch and opening the fridge.

Thank you for your insight, I had no clue who to contact with the city, now I do so fingers crossed!

If your offer had a contingency you have an out for the failed inspection.If your offer had no contingencies you have now learned the power of contingencies.So long as your binder payment was less than the septic repair cost, let that be the cost of learning about contingencies. 

I worked with a buyer down in Mentor-on-the-Lake, Ohio and I had no idea if it was going to work out.