You can often times save money and create a much better product than you would have had if you would have purchased it for a premium.

Especially for a rental, unless there’s structural signs of major shifting or an engineering report on recent changes to the foundation I question if you really need to spend money on that.  

Also, make sure you know what the monthly HOA dues are as these can be pricey and make it difficult to make money off of the rental.

That will make the purchase void and tie up your money for nothing. 

The idea that you can build wealth without putting any money into it is a recipe for disaster and the sales pitch of gurus trying to steal your money.

I've been in Mortgage's for 25 years and have lots of money sources for flipping, investments and hard money.

However, especially for your first, I would suggest the money you pay for either option is a better value than doing it yourself.Pursuing an investment with a partner does complicate hings slightly and I'd recommend discussing the legalese with an attorney.How do you stop a tenant from wrecking your property? 

And having had to hydroblast roots out, about $3k expense, and then the pipe likes to collapse, so you can often be in about $10k+ for a full repipe to the street, plus landscaping repair on top of that.Foundation can also get pretty pricey.At the end of the day, having done 8 flips, I still think of them as if I can make money, and learn something, I am doing well. 

In that regard you better put money into CD. 

I really just want to pull some equity out do some updating on it, and put money down on another condo/townhouse most likely Florida or another  condo in same subdivision, pay off some debt.