Based on what I'm seeing number wise I'm thinking of just letting the company handle the sale (all closing costs covered by them, going to negotiate buying costs as well) and moving on.

Like the LLC I am covered for everything and unlike the LLC the umbrella give you real protection and an attorney to fight for you.

Purchase price: $77,000 Sale price: $109,000 House hack, no upgrades other than a little interior paint to cover up some oil stains and repainted the trim to the backdoor, and we put some mulch in the frontyard around the tree and under the shrubs.

If you feel the need, just increase total deposit and note on your screening standards that smokers must have higher security deposit.

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%.