You can reduce the rent but hey you can't give them away.

Should I reinvest it all along with what I started out with, or do I pay off some personal debts to reduce my overhead, so that life on irregular pay becomes more easily manageable (I would still have what I started out with to keep investing) ?

The logic being I do not want to reduce the repairs and other costs by the percentage.

After reducing the price further do you really think any of them will still be interested in your low offer which is now even lower.Worse case scenario of not looking at the house and without knowing of any repairs; you usually need carpet, paint, maybe tile, updated fixtures, maybe crown molding, maybe alot of things actually.

What if I could reduce that purchase price to $135K?

Couple that with medical issues and you are in a heap of it.I would step away from REI for a while until you feel committed to making another go at it.

That would be the new loan amount at $42,000, and reduce the cash out to $15,700.If the rent supports the loan amount, and the $26,300 includes both purchase and rehab, this may well be a good deal.

You get 4-5 inquiries on your credit report and they think you're about to file for bankruptcy.Also, banks take off 25% of your rental income reducing your net.

If you find a property that has tenants in it and the owner is charging what is about the going rate in your city, it's very unlikely that they will somehow be willing to reduce the price by 30%.

Or are we depending on appreciation to reduce the LTV?