But my point is that his employee (the inspector) should not have guaranteed to me that he can fix it for some specific amount, it feels almost like a bait n switch because now I have the house and have to pay the full amount.

@Richard Brown if you’re able to make a payment in full to catchup back payments or use a creative approach to clearing the behind payments, then go forward to obtaining the property.

I was considering paying the extra money to have a full appraisal done bc I know it would be worth the expense.

If she can't pay off her debts, why would she be able to pay rent on time and in full?

Finally, you need the right property because a) most won't cash flow very well with high leverage and b) it has to be something you see that others don't or you'll lose the deal to someone who offers the full down payment.

Thanks Jeff,Neither familial status, nor commute time is even remotely part of my screening - I was merely trying to paint the full picture about possible reason for bankruptcy (death of husband) and probably was overthinking all details. 

At the end of it all, I will pay income tax on my net income from the full transaction.

If you have a HML that is only going to charge you 3 points with no down payment PM me his info ASAP.Honestly doesn't sound like a great deal if it needs a lot of work to reach full value.

And I personally believe it will be a very long time before we ever see something as damaging as 2008/2009 was, hence why I do my best to try and help those fight their investing PTSD. 

Asking price is $180,000.Needs full rehab.RSA5Comps on zillow go only so far.