Thanks for the info and the help--- I lost the bid by about 3500--- Cheers-Dan

Cheers...Sorry Brent, lost the mention.....What does the option say about the option price when it expires?

I just went through an eviction and besides lost rents, I sustained over 5k in damages. 

On this note: I've found that LOCAL Mom & Pop suppliers are more competitive, give better service because the local market is all they get and they can't stand bad reviews or lost customers.

You need to make sure that everything is secured (we've lost a ton of those crank knobs for casement windows over the years).  

This all takes staff time and time to get it to the owner which is lost money to them the longer it is not in their account.

In 2010 I started buying real estate heavily...I bought before the bottom, so my investments lost money for the first 9 months, but I was confident they would come back, and they did.You need to be diversified in both asset classes.  

She's disabled, and it appears Section 8  has a long waiting list here.)Any downside here, other than lost cash flow?

The cost of renovating could easily cost you a year's worth of rent, plus you could have 1-3 months of lost rent while renovating and looking for a new tenant at the higher rate.

Remember what happened in 2007 and lots of people lost everything.