I buy and sell properties more often than most investors.....but it ends up being for a few reasons.  1) I get bored with some properties, 2) by buying different types of assets, it lends credibility to my business as an agent to sell those other kinds of assets, and 3) to avoid upcoming large capex costs.However, I actually believe a better wealth building strategy for most people is to simply continue to hold onto most of their real estate assets.

Thats why I entered min of 3%.Why would I include 10% management if I am doing all that myself?  

Can I enter the premises legally? 

Just enter the principal amount and the rate and it will give it to you. 

My objective was simply to get in the game, and therefore the short term loss was well worth it for me.

When you're ready for the down payment on the new home, you simply write yourself a check and use the cash as the down payment.

If its an off-market property, I would contact your favorite local Title Rep and provide them an area of interest and they can provide you all of the property owner mailing address on a spreadsheet... then you can simply narrow down the owners that are absentee to target.   

You could simply find a different property.If the existing drains were filling the sump fine and the existing sump discharge line was discharging far from the house in a down hill direction and the only problem was that the existing pump had failed, then I probably wouldn't be worried, I'd simply ask the owner to buy a new pump before closing.

I've worked with several investors who have comingled funds simply because they simply didn't name their properties effectively.Investors who have large portfolios (50+ properties) and have found this to be the most effective strategy for naming properties/trusts/(Series)LLCs.

Everything can be fixed--the question is simply how much it will cost.I would suggest getting an experienced restoration company or contractor with fire-damage experience to look at it and give you a run-down on what it will need.