Trying to buy the neighbor's house

[Carl C.]

My partner and I have been on the lookout for our next potential deal. We have one college rental and are looking for the next. A few months ago our next door neighbors listed their house for sale for $210,000 which would really be the very upper end of similar sales in the neighborhood. The owner has been in the house for 70 years (he was born there!) and is meticulous about maintenance. The house needs nothing. so we talked a while back and said we were interested. They have no mortgage and are looking to get into a newer house with no stairs and less maintenance ( and out of the now-college neighborhood). We made an offer of $180,000 understanding that they need time to find a new house and they are not emotionally ready to let go. We talk every now and then with them and so far no one else has made an offer on the house. They didn't reject our offer and they didn't accept it yet. We haven't been pushing because slower has been better for us so far. I know I can get $2600 for rent for the house with estimated monthly cashflow of around $1200. There are a few other houses in the neighborhood that are for sale that are priced about 50K lower with unknown repair needs. One in particular I know I could get similar rent with about $200 more monthly cashflow. Having read a lot on biggerpockets recently I can't help but think that the house for $130,000 may make more financial sense (depending on repair needs) even if the house next door is more convenient. I'm going to set up an appointment to see the $130 house as soon as I can (I have a full time job so it ain't easy) But I'm curious what you all think about getting a house near your current investments. I'm thinking economy of scale for snow removal and lawn mowing. But is that enough to make it worth it? Probably not huh?