Smart Move? Look at this deal offer

[Billy W.]

Hey everyone,

I am currently looking at another property in a very 'happening' part of where I am from. The area is a favorite of young professionals, very easy to rent, and on the same street as 5 very popular bars.

The building I am looking at is a duplex. Rents are 950 and 650. They were asking $150K, but now are asking $130k. Comps show similar buildings selling for $170K. Duplex right next door just sold 4 months ago for $166K with no parking spaces (building I am looking at has 2 private spots).

I have an idea to get the building for cheaper by offering the current owners free or below market rent for the $650 unit (unfortunately they are in very poor health, need to get rid of the building, but want to stay in current unit)

I know that the rents do not meet the 2% rule, but I am wondering in a situation where comparable buildings are selling for much more and in such a desirable / easy to rent neighborhood if you guys make exceptions to that rule?

Any suggestions?

Thanks