I always beat that, but that is my bottom number anything below that (even $99.99/door) goes on the scrap heap.

So, no, you can never get rid of it ... only way is to refinance out of FHA, but that may be at a higher interest rate in the future.

Even if the seller accepted an offer of 135k, the bank would still need to approve it ... so, if you want to play that game and the ask price works for you, then tie the property up at 135k and wait for the bank to counter with what they would actually accept, which is likely closer to retail comps ... put in your offer expecting this to happen, and it may takes months before they get back to you and it could be at a crazy high price so don't stop your search in the meantime, at that point your offer will have expired so you could accept their price, continue to negotiate with the bank, or walk away. 

When I look at the SFR's, if you have solid, long-term tenants in relatively maintenance free homes, who take good care of the property, the COC returns probably beat the crowd/syndicate investments I'm currently invested in (I say probably since very few have gone full cycle).

How about "fill my units faster or I will find another property manager"?

The wife is currently sitting in jail for a domestic violence charge, she beat the husband up the night they signed the contract, with no estimate when she will be released.

Pressure washing the windows makes them fail faster..

Secondly, if you hire out the work.. it will be completed Much faster than you doing it yourself (at least in my case, because I work full-time).

However, even in say Chicago, an expensive MFH  market, there are opportunities in plenty of areas that beat most any other residential investment you can make.

DONE deal all signed around.. so I saved 13k on my highest and best and beat two other local builders out of it ..