I'm not convinced that sitting on huge piles of cash is a viable strategy in an inflationary environment.

There is a tendency to want to buy the rate down in a high interest rate environment but borrowers should be looking at the pay-back period to break even.

If you go this route, I'd make sure the seller puts this on his tab.Don't get too obsessed with any single house, there are plenty of fish in the sea.....

Also constantly being in the environment through leasing is giving you access.

Guy will crawl the house under and over, and will deliver the most comprehensive report you've ever seen. p.s.make sure you know what you're getting into. i don't know if paseo has "historic" homes, but if this one is, you will be at the mercy of the city to restore it to their standards. also sounds like a major money pit, esp. in the current environment. 

Had a heated indoor fishing pier that I would want just for myself. 

I believe tenants want to be in a peaceful environment. 

locals that's one thing OOS that's a whole nother kettle of fish and that kettle usually has a strong odor. 

We recently acquired a SF home that has very nice 8 x 10' water feature landscaped in.  It's right off the back patio near the house.  I'd guess it gets to be 3 feet deep.  What if someone fell in and died, is it much...

As you mentioned, it could be tough to get a 203k loan to win in a competitive environment but that's not the end of the world.