Without comps and a credible assessment of the condition, it could be a grand slam or  possibly 80k over what you should pay.

If you won’t hire a PM I’d send something like: You’ve been a great tenant but because of market conditions the rent will be increasing to $x at the end of your current lease.

There are two types of appreciation to consider:1.Market Appreciation: Rising property values driven by external factors like economic growth, demand, or market conditions.

Seeing lots of inconsistencies in unit conditions/rents over here.

At the end of the day, 5% of $80 is more than 2.5% of $100 and the fee models used in the industry will sometimes lead the listing agent's to go from being the seller's advocate to the buyers.

I am not familiar with Horn Lake and the economic conditions you mentioned as a CON, but if you already have those concerns, on top of a large rehab, which typically don't shrink as you get started, and being OOS and needing a PM team, you may want to consider other options as you get started. 

We found this lead through SMS marketing targeting tired landlords.

I think their general stance is going to be to go with whichever comparable property has the greatest degree of similarity in terms of (probably, in this order): location, age built, quality of construction/current condition, and square footage.

Having a tangible property to discuss often leads to a much more constructive discussion.

COLLUDE With Judges like KAREN PHIPPS to case FIX court case outcomes so the public doesn't know their fraud scams that include insurance faked claims with frivolous incident dates of known pre existing conditions putting tenants lives at risk SEE CASE COLUMBUS OHIO FRANKLIN COUNTY COURT OF COMMON PLEAS 22CV003620 AND OHIO SUPREME COURT WRITS : 2024 1311,1314,1315,1319,1320,1339,1360,1362,1378,1400,1420,1448,1471,1474,1502,1588,1601See FRANKLIN COUNTY MUNICIPAL COURT cases 2021 EVH 060439 AND 2021 CVG 020711 FAKE AND UNLAWFUL LANDLORD RETALIATION EVICTION BY ALL COUNTY NEO'S  ATTY WHO IS THEIR CLIENT🙄THEY ARE ALL CORRUPT and fraudingI would be careful about labeling an attorney as a fraud on a public forum.