We are in an unincorporated area so the restrictions are pretty minimal. 

This may not be everyone’s ideal recipe, but if/when markets drop, I enjoy the minimal disruption here. 

4) If you are not going to fully rehab the house under the period terms, but have a plan to market it for profit after minimal updates, is that okay or does it conflict with any terms? 

With the proper systems and a good team, those risks can be minimized and the best deal COULD be the deal you pulled out of.Hope this helps and again, sorry for this story being so long.Wishing everyone success!

In stocks, it could if you purchase on margin or need access to the cash...in real estate, provided you have the tenants, you experience minimal pain. 

Prior to refinancing, if I were to rent it out at market value, I would only get $100 BEFORE an expenses (which are minimal).

.- stained one of the bathroom vanities dark espresso color. - Painted kitchen cabinets light gray (from oak color)- Raised garden beds in the back yard- SOD in from yard- succulent garden lining the walkway.- new fence around the perimeter of the property.

Purchase price: $210,000 Cash invested: $15,000 Sale price: $335,000 Used FHA to purchase a primary residence in 2011 and made some personal upgrades.Upgrades include:- stained one of the bathroom vanities dark espresso color. - Painted kitchen cabinets light gray (from oak color)- Raised garden beds in the back yard- SOD in from yard- succulent garden lining the walkway.- new fence around the perimeter of the property.

Plus we are inheriting "good tenants" who mow the lawn and are professional cleaners, lease goes through May 2020 and they were asking current landlord about a 2 year option which seems encouraging in minimizing vacancy risk in the short term.

The property needed minimal work to sell for market value.