But then again if I offered more than I wanted and did win, I would not have been happy with my numbers.

Make it a win/win- he gets to show the tenants some appreciation and kindness while you get to walk through your end buyers. 

It just goes to show that with a bit of flexibility and creativity, even the most challenging situations can turn into wins! 

anything less than 12% and 2 points is a big win

I have no idea how/what he’s doing now but I have two degrees, excellent job, no student debt, car paid off, I live rent-free with my boyfriend, have cash in the bank and am looking for my first rental property. :)

If you save the date and amount for each transaction in Excel, it's easy to calculate your IRR.  

Excellent suggestions, thank you. 

Everything I have read says I wouldn't get a 2nd conventional loan right away even though my numbers are excellent (credit above 800 and over $500k in my 401k with a monthly pension). 

It should still be clear this is an excellent situation.

For the average investor with a high W2, the nicer asset strategy will win in the long run since the C class buildings require so much more brain power and focus.