I underwrote the deal with MTR comps for shared houses and apartments in the area and the competition is super weak with terrible marketing, and most offerings are in houses with a family or grandmother, cluttered shared space, lacking amenities, beat up furniture, terrible photos, don’t offer refunds if the nurse’s contract is unexpectedly canceled, won’t allow mail deliver at the property, among other things that we would consider “not traveler friendly” The property I’m arbitraging is ideally located, brand new rehab inside and out, high end finishes, hardwood floor throughout, elegant furniture (mine), in suite W/D and dishwasher, parking, 3 minute was to subway, etc.

Now it is only non-refundable if they cant close and it is not something wrong with the title or an unexpected find about the condition of the property.Otherwise, if you like the price you are getting for the house and want to sell then go for it.Best of Luck  

Baltimore is one of the highest crime cities in the US and it's no accident they have buckets full of houses for $1000. 

I suggest keep looking for the next deal.You need to have a solid margin for any unexpected outflow.

It all depends on several variables, sometimes unexpected. 

Credit Life, Accident/Health/Involuntary Unemployment "coverage" only either pays off the loan (credit life) or makes loan payments (A&H and IUI).

Consider whether you have the expertise or willingness to manage contractors, navigate construction challenges, and handle any unexpected issues that may arise.Risk Tolerance: Assess your risk tolerance as a first-time investor.

The original owner passed away unexpectedly ~1 year ago and their children inherited the property.

I’ve bought a couple sight unseen and have always had unexpected repair expenses pop up.

So even if you pick a state with stronger protections like WY or NV, the cause of action arose in the state where the tenant fell, so likely that the court where the accident happened would have jurisdiction.