He said that he'd rather file for bankruptcy than sell below the 84K.  

Check under: Tools > File Place > Contracts. 

I apply first come/first serve to receiving a completed application, not a showing or a phone call.To manage my time, I don't charge for the application and therefore, don't show without it being on file. 

Still producing cash flow though.

Using the 75% of gross income over tax return calculation method can be elected if the file is strategically put together as there are certain criteria underwriters look for to lean towards one side versus the other.

Surprises are still there, it is unavoidable, but being able to look at the two sides of the coin now, we can help the investor prepare for that.In Addition to these tips, I have uploaded some files in the File Place here on BP, that I find it useful to all rehabbers.

While you might have to inject some funds for repairs, the long-term plan would be to quickly get the property producing positive cashflow.

Whether you could max out with $18K on the Roth portion would depend on your situation and income and would be a matter to discuss with your tax advisor relative to your business tax filing.  

You can maximize income this way....without the risk of tenants trashing the place or filing bankruptcy and squatting for free.People are always asking me what kinds of tenants we get....and they always think the worst because of rooming house mentality.  

It kind of feels like basically just filing the papers and not much explanation behind anything.