I walked in and smelled that familiar smell of funk and burned almonds. 

Good insight.And yah, I’d love to see verifiable statistics on success rate, profitability, etc of going fsbo vs. listing with an agent.

I theoretically (stuff happens) should be clear of the interest on the credit cards and be able to turn a profit?

Figure out how to make it profitable, or dump it.

This way you cover your cost and renting to pets becomes another add on profit center.

I will never sale a house and sleep at night knowing that I am putting a family in danger to earn more profit. 

The learning curve for office buildings is bigger.Office buildings can be very profitable, however.

@Christopher Dorsey Wish I was set up to do business in the US, I'd take this deal off your hands if you just want to assign it.I disagree with @Caleb Heimsoth, this deal has just as much profit potential as the thousands of rentals bought off the MLS every day, with much less risk, namely no money down and no mortgage in your name.

... to take.Have a door in a run down condo in a good urban location that got an offer by an investor that now has overwheling majority of building owned. Was looking forward to rehabing the unit for cashflow or for ...

And I mentioned only breaking even to address that since I'm new I understand that I may need a higher rate that may cut into potential profits.