Sophomore Slump, Need Advice on this Deal!

[Tommy Cheng]

I wanted to pick the intelligent minds of the BP community as I feel like I'm stuck.

We have been running a successful STR for almost a year now and I'm having trouble pulling the trigger on another property. I was hoping to get some advice on this property I'm evaluating.

Price: $540,000

Type: Duplex 2/1 and 1/1 with ability to STR both sides, anticipated average $280-300 at a 40% (low range) occupancy would result in 15-20% CoC

My issue is the structuring of the offer/deal.

We have around $80k in cash with more in stocks (would prefer not to pull any out) so any 20% down would deplete reserves. With down payment and start up costs we'd be looking at $150-160k cash initially.

Comps in the area have sold avg $249/sq ft while this property is going for $288/sq ft. I don't know if any seller would be comfortable decreasing the price $60k ($466k).

Any advice or creative ideas on how I can move forward confidently with this deal? Do I ask the seller to buy down the rate? Do I pull money out of stocks? Thoughts on buying with an LLC vs not for lower rates? I'm in a sophomore slump of analysis...