Cash, terms, tire kicking?

[Ken R.]

I recently ran across a nice property "For Rent" in Oklahoma City and decided to inquire about it. Found out the property is owned free & clear. The home in a very nice quiet area. Haven't seen the inside of it yet but I'm told the home is totally remodeled. No repairs needed. I asked the owner if he would consider selling the property instead. Owner said he would consider selling the home but quoted a retail price. Of course that won't work for me. I told the owner I'm not looking to buy anything retail. I'm looking for a good deal on some investment properties. After talking for a bit the owner said he will consider a lease option but wants 60k down. I did not bother to negotiate over the phone.  Based on comps Property is worth about 161k. Owner wants 185k. This obviously is not a wholesale deal and it doesn't appear to be a good lease option deal either. I wanted to check the motivation level so I asked why is he selling the home and the owner mentioned "AGE". After further conversation the owner mentioned he has quite a few other investment properties as well and is considering downsizing. I asked about those other properties the seller had in order to see if there was a better deal available but the owner insisted that I should take a look at this one first and go from there. I know everything is negotiable sometimes but I don't like to waste time kicking tires. Seems like this could be an opportunity in disguise. I went ahead and scheduled to go and take a look at the property but now I'm having 2nd thoughts because from the the looks it doesn't appear to be a solid lead but you never know. Do you think it would be wise to take the time, go see the property, build rapport, and make a counter offer on both cash and terms? Is it something I may be overlooking?