I agree that it is a skinny deal if the house absolutely requires rehab before occupancy but they way he made it sound is that the house is very much habitable, just outdated. 

You're absolutely right, it definitely depends on how you're priced, but when you're priced well occupancy is definitely really high almost year round.

Absolutely....

I would refinance for $50K (60K, 70K) the numbers absolutely work and pulling out the cash will pay dividends when reinvested in the next property. 

Is it in absolute horrible condition that below market rents are grossing at $3300 and they're asking $270,000?    

You absolutely want a new mtg recorded when doing a "wrap".  

This listing has gone absolutely crazy.

If you don't have it absolutely wired, find someone who does.  

Most counties will be on top of that but you want to make absolutely positive. 

Most people who have a spouse that is "not on board" have spouses that don't support them at all (meaning that they absolutely disagree with what you are doing), which causes a major conflict in their marriage.