It seems once again that investors are buying rental property that doesn't cash flow and planning on continued price appreciation(that may not occur).

So should be accounted for as immediate and/or future Capex.What I prefer about older properties: settling has occurred and any foundation issues are generally evident, which cannot be said for new construction.

Hi @Jason Gettler,No harm in exploring both options.You will likely find that traditional options offer a lower cost of capital, but the application/draw process is more tedious.

Also, I wonder if there is any way to plug the triangular gaps that occur between the siding and the back of the trim boards. 

@Glen Holmen this is a common occurance these days. 

You might want to read our series about “How to Screen a PMC Better than a Tenant”, since selecting the wrong PMC is usually more harmful than selecting a bad tenant: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processes

I would love to buy an investment property through seller financing, but the opportunity has yet to come up.In regards to seller-financing right now... historically this occurs in uncertain markets, high interest rates, or a market with a shortage of 'qualified' buyers.

All documents state closing must occur by Friday’s date.

It never occurred to me what are the rules in scenario that you recently faced.

Here is where the fraud occurred following your 4 criteria.1 A false statement -  $8900 charge for a new water line and $1900 for new siding.