Here are the numbers.Listing Price: 90k, went down in price 35k yesterday.4 Bedroom, 1 BathMaybe 1k in rennovations, all cosmetic.

The Seller is behind on payments by over 1 year.Location: Atlanta, (Decatur) GeorgiaComps: $75,000 to $80,000Repairs: $5,000 – (cosmetic and replacement of a refrigerator)Condition: the house has been vacant for over a year.

If they stay long enough and you get the price low enough, you may even be able to get most of the cash back via a re-finance.Also with a 70+ year old house, I would want an inspection even if cosmetically it looks great.

Major concern is that she routinely accuses me of stealing things from her.  

Im closing a 12 unit this week and all 12 units need cosmetic rehabs.

The house needs cosmetic updates anyways, so I would have already gotten a GC involved for those, and assume they will add the cost of "putting the place back together" into their estimate.  

The other property is not currently rented but can be purchased with 10-20k in equity built in....and some cosmetic updates could raise that a bit more. 

If you were in business prior to 2014, you need to file Form 3115 to adjust your accounting method to include the new routine maintenance safe harbor, which I cover in this blog post.

If you are new to investing, try to find a property that has mostly cosmetic issues (kitchen rehab, updating bathrooms, paint, baseboards, carpet, other flooring, light fixtures, etc..)

THE SECOND MONTH Somehow during the second month, when the newness wears off and the happiness falls into a routine, the new tenants become confused.