That's not possible...If you signed a contract for $100k, that's the price 'until and unless' there are changes requested by you OR required by circumstances (in-wall wiring is frayed. headers are undersized, etc)Second - Please don't breakdown the materials and buy them yourself.

As you gain experience and confidence, you can explore more advanced strategies like BRRRR or expanding into different markets.Ultimately, the best approach for getting your first rental property will depend on your individual circumstances, goals, and preferences.

They will call you each day, which is usually a good thing because you'll always know how your loan application is doing and they'll make every effort to close by the deadline—barring any unforeseen circumstances.

High Maintenance Costs: Escalating maintenance costs can erode your profit margins.Change in Neighborhood Dynamics: Shifts in the neighborhood that negatively affect your property’s value are a red flag.Better Investment Opportunities: Selling might be wise if you've identified a more lucrative investment opportunity.Cash Flow Necessities: If you need liquidity, selling a property can provide a significant cash inflow.Tax Implications: Sometimes, selling can be advantageous for tax reasons, especially if you can benefit from capital gains tax laws.Personal Financial Changes: Changes in your personal financial situation may necessitate liquidating assets.Retirement Planning: Selling investment properties can be part of transitioning into retirement.Portfolio Diversification: Selling might be necessary to avoid overconcentration in real estate.Legal or Regulatory Changes: New laws or regulations can impact the attractiveness of holding onto a property.Ownership Challenges: If the burden of ownership outweighs the benefits, it may be time to sell.Real Estate Market Trends: Anticipating a downturn in the market can be a reason to sell early.Interest Rates: Rising interest rates can reduce the pool of potential buyers and lower property values.Property Value Appreciation: If your property has appreciated significantly, taking profits might be smart.Lifestyle Changes: Sometimes, personal life changes dictate a shift in investment strategies.ConclusionDeciding to sell an investment property is a complex decision influenced by market conditions, personal circumstances, and future investment goals.

Then you have to respond, usually within 21 days, but it depends on the jurisdiction and circumstances.

Depends on circumstances. 

This may or may not be done before you speak to the property seller and IMO you should probably talk to the seller before deciding its a 'good deal' to mitigate against unforeseen circumstances with the property.

This has resulted in an unexpected financial burden of $7500.In light of these circumstances, I am seeking advice from you all on the legal options available to me.

Paying a bit over appraised value wouldn't be a hard no for me in every circumstance, but of course I much prefer to capture some equity on purchase, so I'd have to be 100% confident in my underwriting and strategy for the property. 

To comprehend existing circumstances, trends, and possible investment sectors, do in-depth market research.Conventional standards such as the 4% or 1% rule may not always be applicable.