What data has shaped your perspective? 

Depending on how bad the conditions are, accrued pref may never be paid out and original contribution may not be returned in full.If pref equity's original capital contribution is not returned in full, common equity is in even worse shape.

Sounds like an unreasonable seller and the most likely reason for them not wanting an offer with a financing contingency is the property is in too rough shape to get financing on it (structural damage, fire damage, etc.) or won’t appraise anywhere near asking price.   

As consecutive Mac Conway Award Winners for Excellence recipients, Montgomery is well positioned through their "Imagine a Greater Montgomery" initiative to re-shape the city vision.

Networking with the BiggerPockets community and learning from resources like Brandon Turner's book were invaluable in shaping my strategy.Good luck!

Buy good areas and buildings in decent shape.

No reason to get all bent out of shape :) (it was showing that I still owned those houses on my profile and I’m getting ready to buy my legitimate first property this year).

However, in Columbus, you might find duplexes in decent shape for around $200k to $250k, usually located in C-class neighborhoods.

Purchase price: $300,000 Cash invested: $31,0002/1 X 2 duplex with new roof, newer AC's and new water Heaters in really good shape.

It's an 860sf unit, so it would be right around the $2.00/sf mark as a LTR, if not a bit higher.I inherited an existing long-term tenant in the first floor apartment, so that unit isn't in nearly as good shape as the fully renovated upstairs unit.