However I'm starting to think it wasn't a wise investment despite the location & 4 rooms due to resale value in the future, loss of appreciation due to the busy street, higher than typical taxes & future repairs on a 1912 home.Should I back out of the deal as it's too risky?

I’ve been looking into some properties that make sense numbers wise.

@James Wise  you guys should all follow JIm in his u tube and see how he runs his investment real estate shop.. no letting buyers waste his time or run him around.. he takes control or its next. 

A lot of them basically wing it price wise. 30k for a full guy job would probably be a great example of a contractor who's just kinda winging it and probably doesn't know much about running a business. 

I don't mean to insult your family member but maybe you should explain that it's not wise for a renter to own two pets when they can't even qualify for an apartment without using a cosigner.

I recommend trying Loan Depot since it seems like they’re one of the few lenders out there who can/will offer it and don’t put a hard cap on the rehab cost (as long as what you’re trying to do rehab-wise is reasonable obviously).

But tax wise I wouldn't want several flips each in their own LLC. 

@Kathleen McCabe If you buy wisely then timing shouldn't matter.I'm an experienced investor and I'm a little nervous too--less about a real estate "crash" than about a recession and a downturn. 

They will be able to let you know what kind of shape you’re in credit wise so you can gear up for that initial purchase.

Although no one can predict the peak of the market, isn't is wise to avoid buying at downward moving market?