The option payment basically covered either the repairs or the holding costs, but not both.

I'm checking on that aspect further before I use the IP technique.

You would be entitled to all the ordinary and necessary expenditures related to the rental, such as repairs, insurance, property taxes, maintenance, etc.

I will be managing the properties and can handle all but major mechanical repairs.

Repair roads and maintain adequate street lighting.

You said it will appraise- so offer 278 with $8k credit(3%)for closing cost and cosmetic repairs to help get in.

The property currently needs a roof repair that has been quoted at 5000-7600 and the current list price is 174000 and rental rates are right around 1700-1800.

If you buy a condo, make sure you get to see the association meeting meinutes and budget, so you can know what;s been going on - Do they have decent reserves in case of emergency repairs, like to the roof or siding?

But, things like that do happen.Doing a "subject to" deal is one of the creative techniques investors use all the time.

-does the house need any repairs?