Since you’re buying and not refinancing like we were, hopefully this will work out in your favor and allow you to grab a  lower purchase price.

The unit stays vacant for an extended period of time, and you have to lower the rent to fill it again.  

I have a background in construction, I'm not a GC but I work for a large commercial GC at my day job and feel that this may give me potential leg up in this niche/ stratgey.The half-baked idea I have now is to build a container house duplex and live in it and rent out the other half.

@Daniel AntonettiIn general, not much you can do after closing.If you had made specific requests about the tenants in your sales agreement then you might be able to go after the previous seller for not complying.But, if you didn't have specific language in there, the owner is still able to renew leases.Even if you had Estoppel Letters, it wouldn't prevent the seller from doing something sneaky at the last second like signing a lower rent lease in exchange for doing fixes the seller didn't want to deal with out of pocket.

You do need to understand debt and the underlying securities but this is certainly lower risk than above.Note funds.

Heck, in lower income neighborhoods, it may even protect the property somewhat.I think in this case, @Courtney Hebert, you two just got off on the wrong foot. 

Good luck and I'm sure it will all work out since you're the obvious owner, but stuff like this just rubs me the wrong way and yet again lowers my opinion of the bureaucrats. 

The primary has a small amount of equity (lower rate) and we could swing the payment on my current salary.

Recently came across a situation where my higher cash offer was turned down for a lower financing offer because the lower offer didn’t have an inspection contingency in it.

Recently came across a situation where my higher cash offer was turned down for a lower financing offer because the lower offer didn’t have an inspection contingency in it.