If you do, and if you never lost your keys and she didn't lose keys then the facts don't support a need to change the locks.

That way you can offset your vacancy rate a little better, by losing only 1/4 of your rent while vacant.

However, by the time she gets a job and we wait 6-12months, the value of our home may change for the worseI just hope we don't lose out on the equity that was built up.

I submit that @Steve Vaughan is absolutely correct this is a very very dangerous play for the average person who has not demonstrated any ability to save money.. you just bury yourself in debt and if your deals don't go well... ( See many storied of first timers losing money) now your really Fubared ... you lost money and you have a mountain of CC debt which will absolutely hammer your once pristine FICO.Now if you have an AMEX black card with no limit or Very high limit say 200 to 500k well then go for it.

If you sue and lose, you have to pay their attorneys fees as well.

How can we structure the deal in a way that we can do the repairs ourselves without the risk of either party losing out in case the deal falls through?

Are you losing money?

As I will not buy (or manage) sight unseen, this also brings me to the NW.

"Lose to win".

@Jacob CasarezI'm not losing any sleep.