However I would pay the difference between the part and the cost of the new range since I will get benefit of having a new range for the life of the appliance.ADDITIONAL DETAIL: I spoke to an appliance repair guy who told me it's possible to repair the cracked glass top, but in actuality the repair requires the glass top to be replaced for it to be "repaired". 

Eric,Give us some details so we know what you are working with regarding the transaction.  

@Joe VilleneuveMakes sense, and I’ve heard this before, but I had a hard time making a step by step plan until I just recently listened to a BP podcast that explained how to do just that in good detail.

Account Closed Thank you for the detailed post.

@Matthew McNeilI would add to your requirements that the Investor does NOT need the cash flow.If they need the cash flow, then this will NOT work for them.This narrows down the kind of Investor that should follow this strategy.The only added Caveat I would say is that I include your JOB as a cash flow.So if you are making a lot of money in your profession, then how is an extra $100 per month or even $1k per month going to somehow help you?

I won't rule out all housing involving HOAs as obviously there's always potential for good deals, but definitely will be extra cautious of them in terms of what rules certain states abide by in regards to them and how those terms can affect the deal.   

Above that, I pay extra to my cleaner per set of sheets used over the base amount we have set, and charge extra for the guests over the base number. 

I'm pretty sure I lost a few friends during that time, because I was so focused on my paying off my debts that every extra dollar that I made or had, went to debt pay down. 

All extra contingency, inspection, credit from reno costs is applied to your principal loan amount (you don't get your $ back from Fannie Mae!).

What happens if/when the seller can't come up with the extra cash needed to payoff the underlying mortgage?