And yes it is a lot of work, but it's not about the equity, it's about the overall value that you could lose..... 

There are plenty of people that do not purchase investment properties or stocks because they are trying to time the markets and end up losing out a lot of potential gains over the course of their lifetime. 

But you also have to compare the benefit of taking depreciation and expense on a couple of the rooms and losing the primary residence exclusion of a tax free sale - but you could still 1031 the investment portion and defer tax. . 

She calls this her "use me and lose me" service for people who self-manage but don't want to hassle with an eviction.Not sure if there are any property managers who do similar work in your area.

Had unexpected issues come up during rehab and the market didn't respond like we thought it would Bought it 50/50 with a partner we'll lose a few bucks each on it.

I’ve even had listing agents counter offer that we had to use their preferred lender, and it’s always about trusting the lender to get the deal done more than what the rate is.EXACTLY  experienced agents know that its not all about rate  rate while a consideration of course does not do you any good if the MLO botch's the deal not ready to close you lose your inspection dollars and EM .. 

Only thing to lose is the monthly cost and if I get no bites I can just sell.

Fast forward a few months later--the house has been completed and despite being in a new job making substantially more than the amount she previously made, she now finds herself with the prospect of losing her down payment of $17k with only three days left to close!

If your contractor and the current tenant showed you enough to make the deal a "no go" for you, then you should be able to terminate the purchase agreement (and only lose the DD money...in NC).I like the idea of getting quotes on making the repairs, and presenting (still, within the DD period) the seller with the problems, quotes, and a request to reduce the price by $xyz....or, you could just decide you don't want to deal with the property since it has xyz issues.  

I don't want any lenders to lose money.