In some cases there will be almost no delay in payments, but for deeper value add, it can be a year or longer before the checks start flowing.

In speaking more in depth to my friend about this, he mentioned that the number per sq ft simply gives him a ballpark to determine if he's willing to dig deeper into a property or not.

Just be patient and trust the numbers, not your emotions, and you will find a property that makes sense. 

@Tracie VanHi Tracie,Well, the way I see it the carpet seems to have been (numerically) at the end of its service life (all used up) for getting market rent from the unit (for a reasonable length of time with a new tenant).Since the guy is in now ill and in the old folks home he probably wouldn't be able to fight you in court on the charge but service life seems to be the issue here not the emotions of the situation.The carpet should have been in your CAPEX savings (cost to replace grossed up to the new cost at the end of service life).It's a regular semi-predictable expense in this business.

It allows them to get deeper in the hole, and can possibly lead to an eviction that will stay on their record forever.

s are only part of the pricing story on residential multi-family.Sounds to me like you made an emotional decision instead of a logical one / business decision.You may need to the close deal with the seller's new terms, rent out that fourth unit instead of house-hacking, and look for a better house-hack candidate.You should also be courting money partners until you have substantial resources of your own.No one does REI alone and, if you try to, you'll be setting yourself up for failure.My $0.02 ...By the way ... how did the appraisal come in?

@Jonathan MartinezI would think this through, very carefully.A majority of sellers you cold call will have an emotional connection to the property, regardless if they are losing it because of a hardship or not.

However, I know that I am emotional about this deal because its in my own town and I want to see these storefronts fill up with great owners/tenants.

From there choose 2-3 hooks you are going to use such as emotion, logic, and or average process-based.You're now going to be able to write ad copy for each of those hooks to be able to target that specific avatar.Create a separate campaign for that single avatar.

Many introverts are deeper thinkers, have a sense of loyalty, develop fewer relationships (but deeper relationships), and operate much better 1 on 1 vs. groups or crowds.