I typically do not allot much for maintenance the first year or two on a condo or townhouse arrangement since I replace most everything when I buy it and exterior maintenance is taken care of by the HOA. 

Prices were roughly a million dollars  for a 2 Family home in this neighborhood at the time (Much higher by now) and there was no way my landlords 20K will be enough for a down payment so was looking to buy with someone as a partner I would live in half and he would live in half.I ended up finding a 3 Family for 930K But at the last minute was outbid by a cash buyer :( (The guy that went in to contract ended up calling me that he does not want the property and wants me to buy it but told him to late)Search continues I ended up finding a deal on zillow for 750K Called the broker a million times could not get through finally i got through he told me he already had 50 calls on the house that day and he is stressed out ....... and he can only show it to me next week, I saw that with out being aggressive i would accomplish nothing so i asked him if he can be my buyers agent and he will get double commission. this opened all doors for me and he gave me a showing for the following day.So we went to look at it with my wife it needed allot of work but for 750K it was a bargain, I told the broker on the spot i will take it, but he tells me he will need to wait a week till everyone sees it, I wanted to avoid a bidding war so I told him i would offer him 800K if they except my offer now Long story short a neighbor bid up till 815K so i told the broker that are deal was for 800K and i pay you a fee, but If I am taking it now there is no way I can pay you an extra fee, he understood me and told me to put his fee torwards the house and he does not need a fee from me  I ended up getting a contract for 825K I ran around to every person that I know borrowed like crazy and came up with 200K and after 3-4 Months we closed in September 2015 with out a partner.

Wow, thank you all for the posts allot of info and thanks again for helping point me in the right direction.

I am looking into a career and future that will lead to more allotted time with my family and friends.

I know someone in my real estate investor club who supposedly has allot of probate leads and is asking for help with them.

Work progressed much too slowly for the project to be done in the allotted time (which frankly when I hear a contractor 6 weeks I just assume it will really take 10).

The problem that I see is that your only 'plan B' scenario deals with not being able to sell your property for the price you want after the allotted time.

The property can be conventionally financed, however the time period allotted is too tight for my local banks to guarantee the 21 day period because of the appraisals currently being out 2-3 weeks.  

There are still allot of hard working folks in Detroit with a sense of pride of ownership and pride in their life style if they are renters you just have to take the time to get familiar with the areas that are still civilized. 

Good luck Alberto and keep us posted, BP is a great group and you'll learn allot.