I would certainly not defend it (plus I'm not sure you will find too many advanced value traders on this platform) because there is also the lack of control.

If I get greedy and claim it, and it comes back to bite me, I will hate myself for the next three years.

also I think you were being cheap and greedy..

While Sacramento might not be as red hot as San Francisco when talking about cap rates, Warren Buffet's famous quote echoes in my head, "be fearful when others are greedy and be greedy when others are fearful."

Am I getting too greedy and unrealistic??

Be fearful when others are greedy.

You just have to keep going.Probate can be good but you are dealing with the wrong kind of emotions, either they cant let go, or are too greedy.

Am I being too greedy wanting to get the property at $5K or is $7K look good enough?

Do not get greedy, just be honest and dispassionate about how much will make the deal a good deal for you.Allen Fletcher

My point is: Don't be greedy, make something up that works for both you and the lender and if u want the borrowing/loan to appear more attractive, favour the lender (  an extra % int rate for example ), just small things that makes the deal/loan appear more favourable for them.