Again you and your broker will know Ohio better than me but from a macro perspective my knee jerk reaction is you should push for 9-10%.Lastly you said the building has sat for a year, major red flag in such a hot market.

So just imagine my reaction as you read on.....I received the same "warning" from Homeaway as you for a listing that I manage for one of my clients. 

Given the OP's description it is a bit more than I had expected-what are other readers reactions?

Ultimately we are working with other people and you never know the reaction they may have when put in that situation.

So yes, it makes sense that someone who doesn't understand the basics of cash flow to have an emotional reaction to it because they don't see the very first cash flow as negative.Once you get the understanding of the basic of Cash Flow, you then understand the only way to really know your Investment is to sum up all the future cash flows.So the very first Cash Flow is Negative.The remaining cash flows before the Sale is either positive or negative, depending on the rents minus the expenses and the debt service.And the LAST cash flow is almost ALWAYS positive unless you become underwater with your mortgage.Given that, you can easily put together a list of cash flows and then the calculations of the IRR is so simple, it makes you wonder why the Majority of Investors really don't do it.

@Michael LewisThis is a major over reaction on your part.

When we aren't there, we would definitely rent it out for weekly rentals.Numbers:Have up to $100k to invest in this Duck propertyConsidering homes in the range of $750k-$800k that attract around $70k annual rental income.We know that we will likely only use the property in season for a week or so, but we would be using it more out of season.Any reactions from investors who have considered this/similar situations? 

For some reason I made the knee jerk reaction to list it with her ($65,000).

Once I finally revealed to them I have been slowly starting my portfolio I actually got the complete opposite reaction.

@Sarah Buchanan with the given details, my initial reaction would be to take the square footage discrepancy, as well as the cost to repair the flooding issue and revise your offer.