Now, In my first offer I included an inspection contingency and also it is all cash offer, the bank countered for Highest and Best, due to multiple offers.

It's not a good investment for MY money, and my alternatives include small multi's that we've been buying over the past 6 years in SD.  

The whole theme is pink to include the toilet and the tub.I'm considering leaving it and taking a hit on the selling price.  

As long as they are paying you in full, with late fees included, around 2-3 weeks late, and even if they did this every month, I would be fine with it.I own right at 25 properties, and about 6-7 of them are usually between 5 days to 25 days late each month. 

There are many reasons for this including tax and liability issues.

Although the divorce decree stated that she would try to refinance to get me removed from the home mortgage, she has been unable to do that and so I am included in this HAMP modification and still on the loan for that home.  

You'll surely get better feedback if you post what costs you are including in your calculations.

Most people (myself included) can't afford to live here at current price points and I can't imagine how that is sustainable long term.

Somebody should include that in every real estate agent training course as so many have spread this silly thought process to buyers.

I would have all my docs. run by the attorney, plus have an escrow company for collecting rent and paying the existing mortgage (be sure r.e. taxes are included with that payment also) so it doesn't fall into foreclosure.