And loving what I read from the blogs here in BiggerPockets.I am excited and only a little scared.

The first deal scares me due to it's size and limited market but if your agent knows some buyers for that type of property, power on!

My tenant is threatening to call the Dept of Health.

The biggest one that scares me is food deductions.

Aren't you scared?'

@Michael WoodwardWe measure the health or strength of our investments in one of two ways - either equity, or CF.

Thank you @Jon Klaus - I'm excited (and a little scared...) but mostly excited.

First of all, most of these agreements are hog wash, scare tactics to keep other in line.

Your health will be better and you will get fewer lines in your face.Consider this, there is a high probability that more experienced investors were shown this same investment opportunity and turned it down.

You can suggest to the current owner to try and do at least something minimal to stop the leak.Tell her about the mold issues that could arise and affect his/her health if left unattended.Write into your short sale contract a special clause that requires a secondary inspection to verify that conditions of the property has not deteriorated since the original contract may serve as a motivation for the owner to do something to have you not back out, of course, the flip side is you may scare them off with such contingency.