This definitely sounds like a tight deal.

The margins now were a bit too tight to make it work as a flip. but the deal still made sense from a buy and hold perspective.

If someone is running a tight ship, paid meetups are actually better because the tire kickers do not show up.

I did make assumptions on insurance but I feel that $800/year is very low and that you would have 5% of rent in lawn care, professional fees for tax software and other, and a small budget for small repairs. 10% for property management is the norm until you are managing 5+ properties then you can start to get some breaks.I hope that you are able to make this work for you but it will be tight even with your 30% down payment which is a lot of cash to tie up.

I'm guessing you are on a deadline to occupy the property to conform to the terms of you loan. 

If they're firm on the price, this could result in an upside down first deal for you with numbers that tight - simply not enough room for "uh-oh's" or "we better fix that" scenarios. 

If just for the closing date with no mention of loan approval deadline, then yeah, seems like it's yours. 

So his deadline passed and he added back the amount onto our balance (which was zero).

This one we have another day or two until the response deadline.

They must be stretched tight to allow the air to flow freely through them.