Now the owner is saying that she will take the majority of what we give her for the house and give the tenants whatever is left.  

Have my first deal in my sights but it needs major foundation repairs and an possible deal breaker on an otherwise great flip.  

or major rehabs.  

I have limited cash at this point so I am looking to partner with an experienced rehabber to learn from so that I can learn, make a small percentage of the profit, you make a majority of the profit and the wholesaler can make some money and get rid of the property.I have a relationship with a seasoned broker/wholesaler that I am learning from but it requires that I put all the money up front and I am just not to that point yet.Message me if interested and let me know if you have done this before and I would like to see how your Joint Venture agreement might look like.  

AND....The VP that I built major rapport with has now moved up in rank and is now the President!

These were a great place to park the cash we were building up to purchase our first property, as their weren't many major price swings and you have a 5% cushion/hedge if you bought at the wrong time.  

Typical grandmas house, no major problems just really out dated.

Also, double confirm your major systems work.  

These are antiquated instruments and not favorably looked upon by the majority of the industry.  

Obviously there comes a time to do a full replacement (you don't want to risk a major leak/damage to the interior), but if you can spend $500 now and get another 5 years out of the roof as is, that might be a good business decision.