Hey Celebra,@Kim Meredith Hampton and @Adam Bartomeo have excellent advice, better than I can offer!

But Id say the agent needs to do a better job of screening the buyers. 

The question becomes:  does an investor risk going after a low cashflowing deal now in "hopes" of getting a better cashflow in the future and/or appreciation? 

Perhaps making step-father responsible for those items is better than charging rent.

Bottomline is having a good talk with all parties openly discussing how to handle this in a way all parties can be happy and lessen surprises.Hope it turns into a wonderful opportunity to get better acquainted with your in-laws. 

You might want to consider conventional or investment property loans for better terms.

@Tamy Kieu share your ad, so we can offer better assistance!

That makes me feel a bit better about the rates my buddy was telling me.

But better yet, do a deep search on this very Forum and see what actual S8 Landlords have said about this.whomever wrote this " cut and paste " is clueless.

He mentioned it has been about two weeks since he signed, so I got the impression that I will have time to find a better renter and offered the security deposit as a peace offering...