I agree common sense would show that as a red flag; but I felt desperation to get a Property Manager as my previous Manager had quit on me out of the blue.In hindsight I'd have generated the PMA with more verbiage to defend myself and the properties; I never foresaw the events that had unfolded.

:goofy:For all that making things other people want that Japan did, it still didn't stop them from falling into and staying in a deflationary spiral for almost a decade, during which the Nikkei crashed, their real estate lost 50% of its value, and their government cut interest rates to ZERO in a desperate attempt to turn things around.

If the listing expires and the seller is desperate you may have a shot.

Ofgift, Someone quoted on this board a person who said: " I always like to buy from people who are desperate to sell but I am never desperate to buy"I think it's a good mantra.

Buy and hold same way, but it's desperate investors or locals looking for place. 

Heck, he doesn't even shoot for the get-rich-quick scheme that so many others shove down the throats of desperate newcomers.

I would probably have investors with cash to buy already lined up if you are going after people in that desperate of a situation.

How many low-ball offers should I submit trying to find a desperate seller so we can get the best deal possible?

So just my $.02, but from experience, I chose to get out of the tenant, toilet and trash business and dealing with the broke and desperate owners of crappy houses, in favor of growing a real business in Industrial Real Estate. 

Additionally, you desperately need a qualified real estate agent on your team that can provide accurate comps (sale and rental) for your properties to ensure you don't overpay when you buy or sell yourself short when you exit.