HI Uday,I see a stucco crack by the door on the exterior (possible foundation issue) and possible rotted wood in one of the exposed walls, plus the shingles on the eaves looks wavy (rotted wood) and possible large ceiling leaks (more possible rotting of the roof), plus a lot more.Also electrical code might require you to update to modern code.It looks like a lot of unpredictable labor (possible cost over runs) and possible extended unpredictable hold time.You could get bids for everything that's wrong with it, if you understand what's wrong with it.The first step would be to get a home inspection and take it from there.Roof, foundation, electrical, etc....

I really appreciate everyones feedback.. at this moment seller and I are renegotiating terms, I am looking to get more principal paid out of this deal, that way it offsets the unpredictable appreciation I assumed with that balloon payment term I mentioned.

Don't time the economy, but constantly learn about it Invest by what your investment market tells you is working, don't try to fit what you want to do into the marketvolatility is unpredictable, but interest rate increases aren't speculative, they are announced. learn the greater fool theoryplay the long game, you don't have to get rich in the next 24 months to be successful.

Real Estate market is similar to other market, which is unpredictable, nobody can predict the future clearly, And it is tied to other market to, positively or negatively.So the overall market may go up 20% next year, but here is where you need to distinguish be smart and being lucky.

Also, I think that BRRRR investing is a smart way to mitigate risk in otherwise unpredictable economic times.

1:Stay away from short sales they are long and unpredictable.2:If you can purchase the note in a good discount and know what you doing with a good attorney on your side  than go for it and buy the non performing note.3: If you are in the business to buy those types of sales, than buy the note.

Working a 9-5 is not cutting now nor will it allow me and my family security in this unpredictable future.

A Heloc will go up in rate unpredictably, why do that ?

If my opinion that is the hardest way to get started in real estate and the one that is unpredictable especially in the beginning.Do you have a budget for marketing for example?

The other reason I like this is that snow removal is a very unpredictable expense.