he said insurance is roughly 700 each yearly. he said tenants pay all expenses and pay extra for their electricity and water and stuff. what else am i missing?

If you got a 30 year note you might consider throwing an extra hundred or 2 towards your mortgage over your payment amount, it will make a huge difference early in the game. 

Not the best investment for positive cash flow but it is mainly for our enjoyment so the extra rental money is a plus.

Her husband and her are too burned out to manage the large project so I proposed that they pay for the construction and I manage the entire project for them. 

According to Rentometer, avg. rent in the area is $833.If I offer $8000, I'd only be in at about $23-26K (leaving a little wiggle room for extra repair costs).So with these numbers...ARV: $40kRepairs: $15-18kPrice: ~$10kAvg.

Long story short her tank exploded as a result of her smoking and the house almost burned down.

The short sale experience left my credit a tad burned.  

That being said its burning.

This is going to become "Millennial City," with a fair percentage of retired Boomers for extra community flavor.Another opportunity arising from this rezoning may be found as a result of the new opening of most of the "commercial only" zonings for multi-family and mixed use projects here, with current market prices that don't necessarily reflect the near future.

It sure is interesting, don't know if we will find out any other details.I guess we are just happy our offer was legitimate and accepted.Roller Coaster Ride was no extra charge.But honestly, it makes things difficult if you are doing what you can to obtain housing and your offers aren't properly considered, we had no idea what was going to happen the second time around.