Hey Dorian,I think your best bet is to use these funds for a flip first, build equity and pay off the loan so you can acquire rentals for the long run as you go.Most hard money lenders will consider financing 80-90% of purchase and the majority, if not all of repair costs up to about 70% of resale value.

Your best bet is to save up enough to finance your first deal.  

I bet there is a good chance the bad guy has some knowledge of the unit and made a run there in a last ditch effort.The Tenant wanted no part of that and ran out of the place before the bad guy barricaded himself in there.

All network with eachother, and I bet most of them know eachother by name.  

Tenant selection and an experienced, trustworthy management company are the make-or-break variables in the P&L with Section 8, as well as having a very good (read "pit bull") eviction attorney.  

After thinking it over hanging on to the property may be the best bet. 

I would bet that you would be better off making an offer for 2k less, but that's just speculation on my part.- Justin

Has anyone had any luck with this or is a paint made for vinyl my best bet?

I'll bet as soon as I get chickens they will enforce that though...In any case, the new house is in an HOA with no rental cap but they require board approval on paper.

Once this is achieved, I would bet your husband is more on board to save more money for the next investment and with mortgage rates this low, let your renters continue to pay off your current mortgages.My two cents as and investor, CPA and husband.