Winter Park is definitely more inexpensive, but I wouldn't consider it.

On my rental house that can be. 10 to 20% difference in expenses.

If all else fails, you would probably win in small claims court against the seller.It's a hassle, but inexpensive.

However, it's pretty inexpensive (a friend and I are paying $19/mth jointly to be members) and they have an extensive library of educational materials.

Your deal still looks like market price is inexpensive compared to out here and taxes in your area are 4 to 5 times lower than here.

If it will work with the 50% rule (or less if most of the utilities are separate and you plan on self managing) and a 30yr fixed @4.5% for $285K and assuming you live in the 1BR you would have $1,700 in expenses (I never reduce those just because you live in a unit, just my opinion) and $1,444 debt payment for a total of $3,144.

The sellers sold because of the situation they were in combined with time frame, not because they were tricked into thinking it was 1985 and houses are worth $60,000.

The two reports should not be that far off depending on how much time passes and the change in suitable comps.Depending on the time and lender, you will have to supply repairs to that appraiser in order to realize any needed increase in value in short time frames as an underwriting guide to the appriasal.

I do short leases as a fall back if for some reason I have a vacancy in Nov-Jan time frame to get back into the peak renting period.

If they choose to address your offer, they will prepare addendums, which will take another 1-3 business days.....so the POS inspection could very well happen within that time frame.