I'll try to summarize it as much as I can to not bore you with the details.

@Richard Swift so to summarize, you purchased at about 4% down.

I'll summarize it for you and save you the time:Manage your money well: Save a high percentage of your income and put that money to work in profitable investments.That's it, there you go! 

But I summarize the history, and re-make the request.

I guess that pretty much summarized a short answer for me.

A summarized version of your post to me seems like you want to take lump sums of your profit in rehab flips and apply them to long term rental properties?

To summarize my situation briefly:-I have a full-time job in the professional sector in Kansas City, but am interested in REI both because it interests me more than my 9-5 job, and because I see it as a way to generate income without being dependent on a company.

This type of contract is more expensive (sometimes much more), so the LOI is used as a way to come to a general "meeting of the minds" to summarize the terms and conditions to which both parties are inclined to agree.  

Here's  a post to help you understand the cycles:https://www.biggerpockets.com/member-blogs/10850/81214-what-goes-up-must-come-down-or-market-cycles-fluctuationTo summarize, when evaluating any investment, you have to look at all three things in combination: a sponsor, a market, and an offering to see whether it makes sense long term.

So based on the calculation you would pay 3M because it's a good deal since the market value is $3,197,250.To summarize the different scenarios we have discussed so far:- if the property is listed at 2M, you would pay 2M because you calculate the market value to be $2,144,000 therefore it's a good deal- if the property is listed at 2.5M, you would pay 2.5M because you calculate the market value to be $2,670,625 therefore it's a good deal- if the property is listed at 3M, you would pay 3M because you calculate the market value to be $3,197,250 therefore it's a good dealWhen is it ever a bad deal?