There are probably more threads on here with the subject being “what to do with xxx dollars than I have units.

followed by, now, we agreed to $xxx dollars, correct.

Your agent needs to have a talk with their agent to see what the deal is, more than likely if the place is cash flowing $2k per month the owner is not going to go anywhere near your price even if it needs work because he is making money.I have had decent luck with lower offers by negotiating verbally and be upfront "Hey I like the property but you and I are not on the same page with pricing, I am interested in the "$XX,XXX" ball park and I know you are probably not but my offer is here is you ever decide you need to sell.I still don't get it for that price but a good amount of the time I get a reply back that the lowest they are willing to go is...I just helped a client get a beat up tri-plex $30k under asking price with this method and last year I helped one of my clients get $45k off a property in a very hot area of town using the same strategy, I also set reminders on my calendar to go back to them every 2-3 weeks just to touch base and let them know my offer still stands.Hope this helps.

There are some great businesses on that corridor (McGavins Bakery, restaurants, etc) and also some XXX type shops that attract a different type of consumer. 

If it goes over a certain amount it then costs me money (like a failed HVAC unit that has to be replaced and will cost $x,xxx amount. 

xxx

Dont just tell them that you want to buy it for XXX, put XX into it, and you'll sell it for XXXXX.

ARV xxx K, repair costs 100K, comps yyy-zzz K.

I hear it all the time from sellers of POS houses: "Well, the house two doors down sold for $XXX,XXX,XXX."

You'll start to pick up the most common costs - $XX.XX / Sq Ft for flooring $X,XXX to renovate the kitchen, $X,XXX to renovation 1 bathroom, $X,XXX for baseboards throughout, $X,XXX for a new roof, etc.