If you have water damage consider the likelihood of that occurring again.  

Do you think I should talk to owners of above unit for compensation and keep insurance companies out, similar to car accidents and insurance claims?

Also you have to trust your contractors assessment of what rehab needs to occur.  

Additionally, closing agents are fiduciaries and should be trusted parties, or they won't be in business for long or be sued if they don't follow lenders' closing instructions which inherently mitigates the risks for lenders to wire with instructions.For these reasons and others, most double closings occur with C having cash or having hard money.

E-TU-C zoning - the property is Urban Edge, but in an area where there are other rental grade scrapes occurring.

Speaking of college my son made the Dean's list his freshman year and this Aug will be turning 19 yrs old and starting his sophomore year at MTSU. ( Proud parent moment, my badd) Back on the subject, my injury occurred last May, after months of physical therapy and learning to walk again I had time to read a few books.

This is what I ended up doing "by accident" in 2006 as I couldn't find anything sensible to buy, so by the time 2009 rolled around I was sitting on a pile of cash that I'd been saving to invest and was already educated and familiar with the markets having been searching for awhile ... good times!

And I'm use to getting really SMART, responsible tenants who rarely give me problems.....I'll spare you the details of another ridiculous tenant story..... but they are 2 weeks from moving out and she's complaining of a leaky dripping sink that she says occurred last Thursday....Is that an issue that a property management company should be taking care of?

I've had a similar circumstance occur in Michigan back in 2006.  

@Paul Spangler, it also depends on whether you bought your own home for the "right" price ie. will it STILL be worth a lot more than $322k whenever the next GFC occurs - anytime within the next 30 years?...