If renting, you will need to see if the property will cash flow once financed (assuming you are looking to finance this once built, which would be max 75% LTV for a 2 unit property (max 70% LTV if you cash out).As for financing, I think that may be tricky, since you would be initially distroying value as you demo the original house. 

I will be paying the initial amount only, and I don't want to be the only responsible person for the future maintenance or customization charges(I don't mind being a part of the same, but can't fully afford the entire cost!).

I typically like to start with an initial phone call to discuss your investment goals/experiences, answer any questions you have, and tell you all about what our company has to offer.

Which is why initially I didn't think it'd be a problem. 

Back to my example above, I buy the house initially with 50,000 cash, rehab for 15,000, then refi for 100,000.

We’ve at least settled on a broker for the purchase: Second City Real Estate-Brie Schmidt.Since I learn best by being hands-on, I would initially like to be my own property manager for the first property or two.

She initially said she’d take this approach but then came back a couple of days ago and said she’d talked to her roommate and he and the guest said they’d move out by the first rather than show the insurance paperwork I asked for the dog and pay her for their share of utilities. 

Remember you never truly know who you are talking to so treat people fairly despite any initial presumptions you may have.

Remember you never truly know who you are talking to so treat people fairly despite any initial presumptions you may have.

Due to the current market we opted not to have the seller pay any closing cost so that was the initial deal but after seeing that they have a significant amount in unpaid taxes that they're essentially asking me to pay I am wondering if we should renegotiate the deal or just move forward(the numbers still work with the additional tax amount).Anyone been in a similar situation or could share your thoughts on how to approach this new information?