You are either ignorant about cap rates or very unethical in your business dealings.  

Height restriction are also a factor you can not ignore. 

If the guy seems shady to you don't ignore your gut feeling for the sake of a deal.

With this in mind, is it better to say I am interested in purchasing the house and then risk be ignored if they aren't interested, or simply say I wish to speak with them concerning a matter on the  house, for example, so they would need to call to find out what the issue is, and I can remove them from future efforts if they aren't interested?

No real big challenges with our vacation rental, except local regulation that we ignore.

I'm with Jesse--the problem with the 2% rule is it ignores anything but pure return. 

What to spend my time and money on and what to ignore and run from.  

You must IGNORE the advice that some real estate gurus give, which is to run a whole bunch of personal expenses through the LLC.

You must IGNORE the advice that some real estate gurus give, which is to run a whole bunch of personal expenses through the LLC.  

@Richard Vandenberg The homeowner is the sole executor of the estate. excuse my ignorance, I am not entirely familiar with probate but what determines limited authority vs. full authority.