But with my diminished savings, I'm not sure if it's wise to jump in now or wait until I've saved up more.What would you do in my situation?

Also, just like anywhere, not every deal out there will return the same.I also dont have any issue refinancing, or taking out a refurb loan at the same time as the mortgage both with great rates, usually between 3%-4.5%.  

If it's a roommate situation everyone is under one lease.

, and how would you deal with such situation (calculate the risk, etc.)?

As a general rule, the type of deed you receive in these situations is non-negotiable.

There you will be asked your criteria and then after answering a few questions you will be matched with 3-5 agents or loan officers in your area.

  - Any insights on the types of loans I should be exploring?

And, since the cash would be debt (you got the money from a new loan), it's not taxable.

The house is situated in a desirable neighborhood but it seems they are only looking into cash offers. 1.

I was going to ask him to see all of the receipts, and get copies of them for our records, and to ask for a lien waiver so his subs don’t come back to me asking to be paid if he still owes them money.Does anyone have any recommendations, besides hiring an attorney, to make this situation a little better?