I get home from work and the jobs not done. they didn't put the trim on (they claim the other contractors took it and that since it was expensive they wouldn't be able to get more) the sink was loose and shaking around, the shower door was hung inside out (yes, there are stickers that clearly day how it's supposed to sit) and over all it's just not a good job.

I would like to hold on to the investment property, however would be willing to have a partner or whatever it would take to not loose this opportunity.

It basically prevents a court from voiding a contract for lack of consideration, if the contract states that the parties intend "to be legally bound."

Now with this deficit in the size, I may loose money.

"Usually", i use that loosely, because we are all in different states, all you need to give is a thirty day notice prior to the end of their lease, or thirty days before the next rental period if they are on Month to Month.

If I end up closing on this property, I will be renting out the bedrooms to reduce my current living expenses drastically and build MY net worth instead building someone else's by paying rent.Property Info-SFR 3 BR/2BA with detached 2 car garage and large yard-1,309 sqft (6,100 sqft lot)-Purchase Price: 400K with $0 @ ~3.5%Improvements Planned (~$2500 is my estimate)-Fresh paint on all interior walls (plan on doing this myself)-Fresh paint on the inside of kitchen cabinets-New flooring in the two rental bedrooms (undecided on what type and who will do work)-Have tile and grout cleaned throughout house-Minor work like securing slightly loose trim pieces-Backyard clean upMonthly ExpensePITI: ~$2,217Utilities: ~$125Vacancy: $100 (5%)Repair/CapEx: $100 (5%) (big ticket items are fairly new and in great condition)Total: $2,542Estimated Monthly IncomeEach Bedroom: $700 ($1400 total)One garage parking spot: $25 (not including into final calculation as it is not a definite)Total: $1400Out of pocket: $1,152I was paying $1,435 in rent so this would equate to reducing my monthly expenses by ~$300 ($3,600 yearly).

I also currently have access to my MLS through Thompson instead of ORRA and would love to not loose all my renewal fees I just paid.

The first year I would take verbal requests for repairs, have loosely defined expectations for my tenant, all kinds of nonsense.

I know that once you get a home inspection done on the property and you find things that are broken, etc. you can back out of your offer but other than that you are legally bound to purchase?

This helps keep you time bound and action oriented.Good Luck!