I expected to put in about $5-8k to update fixtures and some appliances.After the Home Inspection I've got three big concerns going forward: 1) Roof hasn't been touched since late 90s early 2000s.

3) if I fix it up and can’t sell it, can I rent it and cover my costs? 

I would live in the basement and rent out the other bedrooms to cover the mortgage.

Just want to cover all my bases. 

I did not move forward under the impression that the tenant will pay 1400/month AND cover the HOA costs. 

However, after they came back from a months vacation last week , they informed me the roof leaked into the walls and the wall panels are falling down from mold and wetness This couldn’t have happened in a month . 

However, after they came back from a months vacation last week , they informed me the roof leaked into the walls and the wall panels are falling down from mold and wetness This couldn’t have happened in a month . 

So I would need to cover his cost and the cost of the equipment purchase/upkeep.My options as i see it are:1.

Would an as-is sale of the property cover your principal and make you whole?

But they do have an attachment to the leases describing how important it is, the fact that landlord insurance does not cover their personal belongings etc.