A lot of people really undervalue the power of a few paid off assets.

My GUESS is these homeowners have been tricked/screwed in to signing a long term power purchase agreement, often with no buy out provision.

Is the property under a high tension power line or down wind from the horse rendering factory or on a main thoroughfare or some other obstruction that you wouldn't want to live near?

This deal highlights the power of well-executed renovations and a strong partnership in achieving impressive profits.

But if you're trying to get an exclusive deal, the reality is that you probably have less bargaining power because if they want $296.10/sq ft they know they can put it on the MLS and see if they get any bites.

With your income, you may qualify for an FHA loan with a smaller down payment, but buying now could limit your borrowing power and increase monthly payments.

You could easily be $100k in for water/gas/power/sewer if you’re talking 4+ lots. 

Knowledge is power. 

Unfortunately, you have no power over the tenant until you own the property.

There are a couple REIAs in the Tri-State area, but none of them are backed by the power of BP and the incredible people that it tends to attract.