The conversation usually doesn't go much further than that ...

I would still have a % for CapX of AT LEAST 5%, though I usually go 10% for CapX.

I usually find appliances a couple of years old for dirt cheep, far less expensive than repairing major parts.

If it's husband and wife in a community property state, I usually list the first SSN that's on their joint tax return.If you use the IRS website to obtain the EIN, it walks you through this.https://sa2.www4.irs.gov/modiein/individual/index.jsp

You can also build in other renovation costs into the loan to get the home habitable.You can also look at FHA's 203k product, it too will cover structural repairs.It sounds like you are running into an issue with intent to occupy clause (usually 60 days after close). 

“While we support new entrants to the sharing economy and the competition it brings, we must be aware and very cautious of the negative impacts and repercussions,” said David Drennon of the Phoenix-based Arizona Lodging & Tourism Association, which lobbies on behalf of trade groups including the Southern Arizona Lodging & Resort Association.Drennon said his organization has no quarrel with a homeowner who occasionally rents out a guest house or spare room for extra cash.

@Stone Teran appraisals are usually good for 120 days.

DO NOT let negative people impact you and tell you it can not be done.

Just remember: most negative reviews are written by problematic tenants.

Unfortunately, unless the money is gifted, it is not as simple as them just writing you a check.Passive investors receive at least 50% of the deal, and usually even higher based on your experience level.