Don't get emotional and overpay)Inspection (optional, but probably recommended)Renegotiate based on inspection - optionalClose

If you dig a little deeper into the forum you will find 100's of threads related to the strategy mentioned.

Some brokers actually have somewhat legit pro formas, with just a little biased tweaking, but you still want to verify those.Something that I've noticed lately, is that some properties that are over 4-units, which should be trading as commercial properties and valued based off of cap rates, are trading more like single-family homes and are valued based on comps and emotion.  

It's not THAT complicated, we just can't be emotional buyers that "want" a deal to work. 

I’ve used it before on primaries since there’s always an emotional factor that is hard to put a dollar figure on when you just want the perfect house that meets all your wife’s criteria, but for investment properties I usually just offer the highest I’m willing to pay if it’s a competitive situation, need to avoid the crab in a barrel syndrome and becoming the greater fool when it’s an investment.

Rarity is the amount of emotion that people get when they see your post.

I think the issues are deeper than what you state.

Once you have a general idea of what things rent for, you can then start calling property managers with active listings and diving a bit deeper.

I upped my offer by 3k, wrote a personal letter with a family photo, (did this because when speaking to the listing agent I found out the tenants cried when they learned the current owners were selling, so I knew emotion might be in play and wanted to let them know we are a young local family that care about our tenants). 

My inclination is to move on, but if there is a big enough deal to be made it might be worth a deeper look.