Working with two different professionals in two different locations will prevent either form being able to see your big picture and plan/adjust accordingly. 

Depending on what kind of ROI your looking for you may want to adjust your numbers on the maintenance and delinquency slightly higher to see if it still makes sense.

@Marcus Auerbach I have a good attorney on retainer, so I asked and there may be NJ specific law that option pmt can't be applied as down pmt -- I'll just adjust offer accordingly if that's the case.

We are currently reviewing the listing strategy with our Real Estate agent for a possible price adjustment and change in marketing."

I WANT TO BEAT THESE NUMBERS BY INVESTING IN RENTALS.ESTIMATING EXPENSES:Properties are all in the same area, are about 100 years old; (almost) all have tenants, and could do with similar amounts of minor maintenance; major issues can be identified before closing and purchase cost can be adjusted accordingly.

Personally, I’ll put my best retail price on a first contract simply because I do not know how demanding this client will be, then on second contract I adjust my price to his needs and quality.Great outcome btw.

I was just reviewing an ad I posted yesterday and think I need to adjust the gamma of a shot to make it brighter.

Another thing that may happen is your bank may only give you a 5 year fixed rate that then adjusts after the first 5 years.  

More likely we would have had higher holding costs for holding it while it was on the market and then under contract until it closed.My portion of the profit when split with my partner = $12,406.50Lease OptionPurchase price $72,150 (includes closing costs)Rehab $40,353Holding costs $2,184AVR based on appraisal $150,000Option price $159,900 for 5-year optionFinanced $112,500 on a 20 year mortgage at 4.69% (adjusts after 5 years)Bank closing costs $1,992Option fee $6,500Total into the property -$2,320 (each of us got $1,160 after getting the loan)Monthly cash flow $195.06 (97.53 each)If the optionee exercises the option just before it expires then we will get the difference between what we still owe on the property and what we are selling the property for and we will split another $50,258 ($25,129 each).Total profit $64,283 ($32,141.50 each).In summary, we will get paid a little less than 3 times the amount than if we were to just sell it.  

I will usually walk the property with the inspector and my General Contractor so that he can confirm or adjust my Rehab estimates.