Right, so my folks and I have basically finished repairing a 1920's duplex in the neighborhood of Belmont.

The rents you receive from 4plexs should pay for PITI, HOA if any, repairs/maintence, etc.

Our bylaw says everything behind the wall is a common area and any repairs on that side is a financial responsibility of the association, not  owners. 

I know it is normal to shop deals around to investors, but is it normal to have back up investors on projects and how would you approach someone as a back up without offending. 

If I was taking Jay's advice I would consider opening a pawn shop (depending on your state).

If she pays on time and isn’t a huge pain in the $&@ , I’d just get it repaired for 15$ At a local hardware store and if it happens again take it off the deposit .

All Contractors are subject to the lender’s determination that the contractors are qualified and experienced, have all appropriate credentials required by the state, are financially able to perform the duties necessary to complete the renovation work in a timely manner, and agree to indemnify the borrower for all property losses or damages caused by its employees or subcontractors.Multiple Specialized Contractors: Since this is a limited repair/renovation program, no General Contractor is required.

@Nathan GuyetteThe beauty of real estate is that you can depreciate the property minus the land over 27.5 years, depending on how much you are collecting in rent, you will likely pay little to no taxes after deducting real estate taxes, mortgage interest, deprecation and any repair and expenses.

Through my due diligence I discovered repairs needed and have agreed upon a credit from Seller in the amount of $25,000.

I should also note that she would be willing to give me some time to make the repairs before making a mortgage payment to her....like 60-120 days.