Of course some markets are slower than others due to various market conditions.Speaking only on the perspective of the market here in Metro Atlanta (which does have strong economic growth), overall we have a pretty steady incline on sale prices since the bottom in 2012.

If the seller has no pain though they may not be inclined to sell as much and you don't find a 30% discount in every market but he could likely find a similar discount somewhere in Kansas where he lives in.

Based on the feedback I've received thus far, I'm inclined to do the following:Inquire about Cash-Out refi's, what rates I can get for a 30 year fixed, how long it will take to close, etc.Pull out the amount of equity that I've put into the place up to this point.

I was inclined to introduce myself as i'm new to this group. 

@Matthew Schroeder thanks for the calculations on the cap rate it would appear that if Blaine wanted to leverage the equity in the units by maybe adding a few upgrades and flipping the units to an investor or someone who is more inclined to stay in the town then this may be more attractive. 

I think there are enough risks for an 8 unit - poor condition, lower income tenants and potentially being a difficult property to sell - that I would be inclined to pass on it unless there was a very clear exit strategy.If it is 2 properties it might be more workable to buy one of the properties. 

I would be inclined to demo on my own for removing cabinets but I don't mind demo. 

We had a pretty steep incline there March & April and now the majority of the homes are overpriced and just sitting with price cut after price cut.

If you can quantify the costs, the price is low enough to compensate you for the risks and your time, and you are inclined to tackle something like this it could be a good opportunity.

I didn't know much about fixing homes but I was mechanically inclined from working on cars.