I am a pretty active landlord and probably have higher expenses than some landlords as it has been my policy to take care of my properties to get good tenants. 

With a pool you should always have it completely fenced off to prevent a neighborhood kid from drowning.I would not assume that the bank whom owns it or the town will care about the broken fence and replace it.

You have to be careful with rentometer, it is only concerned with bedroom and bath count. 

I will be paying around $400 month total for living costs (minus food & care), and $350 a month for daycare (YIKES).

Aside from international investors looking to park cash somewhere that their governments can't get at it, pretty much the rest of us care about returns...be it in cash flow, appreciation or both.

Also AS @Edward B. stated completely bad Karma to kick someone out of their home that rescued it the morning before the sale I don't care if it was 5 minutes they got the dough there.watch the movie 99 homes to see the other side of this heart wrenching things owners went through.for these reasons we rarely anymore buy homes that are occupied.. if its abandoned then its a different story.think about your mother or father being booted out.. or someone you love.. then make your decision.

Then my son was born premature and he needed a lot of care. 

Property management companies will take care of the property for you and fill vacancies. 

Many are legal, some are probably not so legal, some are probably specifically prohibited - so for sure you need to speak with an attorney about your strategy before you dive in.If my memory serves me right, it's what armando built his first guru program on - maybe it was his hair, or his smug attitude, or it was just him... but everything about the "subject to" thing rubs me the wrong way.The entire concept, i believe, really is way beyond a basic or straight-forward deal, and also puts your client in a fairly precarious position where the note could get called at basically any moment, and if they can't pay off the note (which they can't, hence the agreement to the subject to) they just defaulted and are now facing foreclosure - In fact, I witnessed this exact situation today on a $12mil note that got called in UT county.

put the property into contract your not out anything.. but then no one else snags it why you negotiate.I just had one like this were 5 feet of the house were actually over the line..Buyer is just knocking 5 feet off the house and doing a full remodel.. the neighbor thought he had us over the barrel.. but I did not to discount for this.. so maybe with that one.. not knowing the topo.. just build a new driveway if its a rental your tenants don't care.. low ball the bank and you got a good cash flower.