LOL1) I already know about that great idea2) I see a very sad thing, people here sometimes discourage other property owners when they ask advice, There is "nothing" wrong I'd you try it by your own, and you may fail too.... that's way of life.

That is the argument that I was failing to convey. 100 Likes for your post sir.

Also, its possible that over several years the mechanisms in a cheap internal doorknob may fail.

I would want earnest money to be atleset 3 times one month's rent plus attorneys fee. as you'll need that to cover losses in the event that the sale fails, the tenant sues and you now have to defend yourself. 

Who knows, this thing could be a total money drain and I could fail big time (although I suspect I won't).  

Failing that, you might have to look for private financing.You should also talk with the town to be sure that the property is permitted for use as a rooming house.

As just pointed out in the new business podcast, failure is the best way to learn (that whole, what did you fail at today discussion was genius!) 

When the blocks fill up, it is because your drain tile has failed.

All the experienced investors I've listened to have said that at some point you will fail, make a mistake, and/or experience hardship.

Their real estate agent has yet to provide ours with rent tolls and failed to answer most questions.