During that conversation I told them that no contractor can promise they are going to be able to keep water out of the residence but they insist on still wanting the property.Again more weirdness me and the tenant had a big blow up argument a few weeks back around me waving rent which I decided to do during this whole fiasco I did a lot of digging and found out that she lied on her application with how much rent she is paying at her current residence with her landlord. 

If you are investing in equity and recession hits and for some reason the deal blows up and can't make its loan payments, most likely you will lose all your money.

@Jim K.What blows my mind is this was flat paintCould you imagine if it was gloss

This argument, I would at minimum, keep the rents the same.Devils advocate here, how much do you like the tenants?

In LO/CFD its too easy to get labled a preditory investor and be in a weak position if things blow up. 

I prefer something better that the big box stuff but I don't want to blow my budget. 

If you use a Realtor, they will have your best interest in mind and advocate for you.

But on the other end, there are times that it is a big deal and could really blow your budget out of the water and be a huge headache.

There is also the chance that you just blow an awesome deal because you low ball too much based on what you have learned on BP without real world experience in your market.Buy your first rental properties in a way that makes financially sense - for high cash flow.

They are a portfolio lender that blows 1stBank out of the water.