Combined with peeps for have expiring 5 Years Arms, would come under tremendous pressure to sell with higher interest rates next year.Wouldn't this cause a correction in home prices, if that market was rational???

.- Rational seller will view it as a $500k offer.- We said above that you're getting a good deal, so appraising at $510k shouldn't be an issue.Appraiser must review contract to confirm that this isn't unusual for the area.

If you are incapable of separating your emotions from a material object you will be incapable of making a logical rational decision.Personal homes are a liability, sell it, keep it, what ever you choose does not matter if it no longer a investment.  

That way at least you know your estimates are rational and fairly close.

Your numbers do not leave a lot of room for error.Regarding your question about rent rations, you can find deals above 1% everywhere in Michigan, not just in C and D class neighborhoods.

Planning to acquire my rental property that seems to only need minor renovations to the tune of 20k and have that feeling others have talked about that something isn't quite right. A neighbor told me and the realtor w...

I have a client who refuses to rationalize buying his own home because he hates property taxes so much.

I want them to be confronted, but also to rationalize the situation and consequence.  

NEVER GO OVER THAT...EVER.3 - Have your RE Agent make your offer.4 - Negotiate price to buy, but NEVER agree on ANY price (and don't rationalize here saying, "I can get my rehab lower") higher than the maximum you calculated out to be in Step #25 - If you don't get an accepted offer to your liking, move on to another deal.  

I could see someone easily (and rationally) taking money and scattering it across 10+ of these style of 50% ownership deals.