I realize that this question has a lot of unknown variables and will also depend on personal preference and goals.

Budget was $2k but plumbing unknowns have hurt the estimate.Rents were $0/$565 at time of purchase (one tenant moved out during closing that was at $465).  

If you added a bunch of value and have a stabilized property for nine months, there should be plenty of lenders interested.Simultaneously executing a refinance and the purchase of another property will have unknowns (timing, valuation, loan approval, etc.)...and contingencies the seller does not like.

Everything else has to be refreshed : Floors (carpeted, heavily spoiled and cat urine odor) Ceilings dry-wallWalls dry-wallElectrical is out of date (knot and tube all over, electrical panel needs replacement) Risks: Sanitization (cat urine smell, potential for pest problems)Structural integrity not checked (unable to check in a timely fashion due to deadline)Evidence of water damage on main floor ceiling, extent of damages unknownNo smell of mold in basement but knowing the city history of flooding, this is uncertainPlumbing looks recent but it was hard to be absolutely sure of this assertionThe reason I decided against in the end : too many unknowns.

The property is owned by Bank of America and has a fixer upper home in the front with a mobile home in the back of the property that has been rented for an unknown amount of time.Both a survey and title search have revealed that the mobile home is on the property and has been detitled and joined with the property.Has anyone has run into this type of scenario before and have any tips or advice to give?

Next thing you know it was about 3 weeks later and the owner tapped me on the shoulder and called me into his office and asked “what do you think about running the sales dept. what I’m trying to say is the same thing as everyone on here said “ get smiling and get dialing and it will be ok” it’s just fear of the unknown, we all have it at some point in our life but we get past it.start off by looking forward to hearing the no’s for each one gets you more comfortable and closer to a yes.

.- Still risky overall, what if the buyer loses his job in 3 years for some unknown reason, he won't be able to refinance at all.

Kitchen has had an active leak- source unknown- that has damaged most of the cabinets, master shower and tub are non-functional, AC unit needs to be replaced, garage door needs to be replaced.

The Colorado Division of Real Estate issued a warning, reminding agents to be cautious when meeting a new buyer for the first time.Please exercise caution. There is no amount of money worth your life.

We do, however, have some unknowns that we want to investigate before closIng, and have an inspectIon period once the contract is sIgned.While thIs has been developing, we’ve been driving for dollars and mailing to property owners.