OP, you lucked out with this hateful nutjob choosing not to rent from you.And, no, I would not believe a non-paying tenant's story that their landlord didn't have the deposit/etc. without verifying the landlord's negative reputation in the court system.

Pretty simple really.Tenants, toilets and trash will erode your profits like the proverbial thief in the night, and finding a good manager or management company is next to impossible.Either way, choose what you're passionate about once you've done your homework.

Save the buy and holds for smaller margin deals.Let us know what you choose and why.

If you miss a date or choose an exchange property incorrectly you can end up paying the tax and pay for an expensive escrow.

Best of luck to you in whatever you choose.

One being that cash offers are necessarily lowball (they're not), another that someone else wouldn't choose to offer more than you (they might), or that a new buyer would necessarily be swayed by the fact that the current owner got it for a low price (why should they, if it's a deal that meets their criteria?)

Remember, the house is set to be foreclosed on, so make sure you do indeed have a large enough deposit to cover the rent, if that is the way you choose to structure it. 

Because an appraiser may choose different comps than the CMA.  

Landlord agrees to initiate repairs in a timely manner followingdiscovery of the damage or can choose to defer repair until Tenant has vacatedthe premises.

I personally feel that if we choose to stay on Long Island, we will be house poor and not being to provide for our children or do future vacations.