. - Originally a W/D was not provided with the unit but there is not a laundromat in town and the tenants don't have vehicles.

@Yamundow CamaraThe majority will advise you to use leverage considering that is one of the most powerful advantages of real estate versus other investment vehicles.

Or for that matter why people have a negative opinion of agents.For what it is worth, in an effort to improve and remain ethical, I have revised my contract to provide more precise language regarding a closing extension and the steps required for the seller to cancel a contract if it extends beyond the original closing date.

Plus, WHEN you buy the property at the right price (if you purchase the property at market or above this isn't the best strategy) there is always the option of wholesaling or retailing it if your renting & refi strategy doesn't seem to be working.It's all risk but the key is to make precise calculated risk.

To be precise I have maybe 1K that I can put in.

Other than an STR, I'd challenge you to find another investment vehicle/real estate investment that provides that, PLUS a roof over your head.Add that to the macro points from @Katherine Serrell and you're talking about some serious dollars a year of direct benefits to your net worth.

Or- better yet-  come up with the $8k somehow with a vehicle title loan or something so you own it outright. 

IMO its best to be precise and efficient.

My takeaways are:- LLC does have financing options available, which I will explore before making an offer on another property- a 4% CoC return doesn't make sense if I'm not owner occupying given there are other investment vehicles which will be more passive and less overheadI'm going to back out of this offer and take some time to work with folks in my area to find better offmarket deals.Thanks a lot everyone!

At that precise instant, a judgment against one former spouse alone attached to the property.