Option 1 is they leave, I try to get it rented out as fast as possible and they are responsible for the rent and utilities until I get it rented.

Thanks for the fast responses.

There is a catch 22 in that you want to buy a flip in a neighborhood where it will sell fast.

Most of our work is on medium to high end residential $350,000 and up.Once you find a good contractor , pay him good , pay him fast , when YOU call he will fit you in .

This idea about paying more because of the financing is a fast road to ruin. 

Not much to break on a shopvac and most who own them barely use them, find a decent used one and get a heavy duty for the price of an entry level model you'll burn out fast.

At that rate, if the house is not sold around month 8, I begin to lose profit fast as I would be stuck in the hard money loan because as you said, the house would be listed at that point and I couldn't refi at that point.

Steep learning curve.Expensive hidden costs.Always 10 times more to do than it looks like.Costs spiral fast.

If I could not get a far discount to make it worth while I would pass.My thinking is that it would be possible to get a large discount with fast close and cash.

Fast forward 2 months -- A crackhead (literally) moved in next door.