When I was earning a lot more than I needed, it was easy to take the risk with disposable money.I want to quickly point out that in order to really take advantage of getting these seemingly tremendously lucky deals, you need two things:1) Recognize the Opportunity and2) Be prepared (usually by having the money for it)When I started working in my professional IT Job, that gave me the preparation part.When I started learning about the financial calculations, especially Future Value, NPV, DCF, etc.

Are you intending to live in the house until you exercise the option, or are you planning on doing a Sandwich LO?

Typical great idea from gov that has the opposite effect intended.

There are many opportunities for cashflow rental properties.  

We have around $150k equity in our home and are considering selling and using the cash to move into a property that will give us an opportunity to generate some revenue through house hacking or finding something with a guest house or apartment we could rent out. 

I needed a place to live and could not justify paying rent when opportunities were available.

I needed a place to live and could not justify paying rent when opportunities were available.

Of course, I am current with all progress payments and I certainly intend to pay the contractor for all the work he has done.But how can/should I go about getting out of the rest of the contract?

Example water front property, ski resort some along those linesSecond home, you have to intend to occupy the house for at portion of the year- Some lenders set overlays on length of time.

The listing says that some rehab is needed but optional (like adding a garage, or putting central air), and has been inspected 2 years ago.Let me know what you guys think, as I'm pretty excited to drop my money for this opportunity.