I think I can conservatively get $16,500 in rent but I have estimated $1,200,000 in rehab costs and I fear that may not be enough. 

Hi BP friends, I've had listened to many of the BP episodes and every time they get to the question what separate successful people from practically the rest, (during the famous 4); 99% of the guests say: fear and lack of action. 

. $100 a month would not do it for me, because of the risk of problems with the house (maintenance headaches, vacancy fears, etc).

One side goes up, the other goes down - Stocks vs Bonds for instance......or in Real Estate, inflation cause interest rates to rise, buyers get fearful, home prices go down.Basically, my opinion is that one has to be more amenable to risk taking, and mainly figure out where everyone is going and go the other way...Just my .02.

After thinking about it and all this is entailed, I quickly realized these firms capitalize on fear.

REIs and average Home-buyers are two completely different segments of the market, and so are their wants/needs/fears/mindsets.

You apparently did not put the fear of god into them when they signed the lease agreement, otherwise, your tenants would be treating you with the same respect you treat them.

My fear is that I am not financially ready to spring on another home without being in a pinch.Your thoughts?

He has no problem whatsoever with us utilizing his portion of the right of way - but we do eventually need to take care of legalities - I fear the time will come that he wants to sell the property and by then it will be too late to work this to our advantage. 

The litigating cousin of the slumlord.Expect this will drag on, but do not live in fear of it.