Vacant homes are usually boarded up, have long grass, and looks unkept.

I will guarantee them 3 months of interest.My lenders usually get 10%, interest only payments on a monthly basis.

I am so glad you were able to turn a negative into a positive and not become jaded about REI.

I personally would recommend a realtor, as they usually have their finger on the pulse of the market.

Your closing costs will be detailed in an estimate....they usually seem high if you’ve never bought before.  

If a Phase I discovers issues, it usually kills the deal.

I already politely declined attending but I agree with some statements above that it’s good business and we (tenants and I) are on a closer interaction platform (I’m usually in the neighborhood, quickly address any issues that come up which are minimal) and potentially in the future they will rent longer or purchase a home from me.

Negative returns? 

Depends on the level of the rental but scratch and dent/ reconditioned are usually the best way to go in my opinion. 

For example, if the bank tends to list houses at X price, but usually only accepts offers over 2X.