I agree with that, until you have it locked, anybody could get it so keeping it under a tight lip is smart.Do let us know what becomes of this and my offer still stands, assuming the numbers are accurate and I am sure the rehab is (assuming I am correct on the size of the home).Will

@Shawn Casinader  as you so aptly point out... buy Detroit for next to nothing  IE 1 to 5k per home put in 10 to 15k ( lip stick) and sell to unsuspecting out of state investor who thinks they just hit the cash flow gold nugget...

Hi BPers,(This is adapted from a post on my blog, Read My Flips (get it...like "read my lips"?)

You will lose any investor as soon as the words "I didn't think about that escape your lips".

Have that appraisal handy, keep your lips zipped about the purchase price unless someone asks. 

I think if you really want this house you many need to put some lip stick on a pig and keep moving. 

I have agents who throw me business if they know it's something I do.You need to get on the phone with people and have that 20 min conversation that covers some business, some personal, some chit-chat and by the end of that if you've dealt with enough people you should have a decent feel for whom you're dealing with.I can say as a loan officer, I treat every loan like my life depends on it because I know if something goes wrong it is going to be on me whether it's my fault or not because I am the face to face with the borrower so any bad news is delivered through my lips. 

Ride it out, bite your lip and non renew their lease.

During conversation touched on his other props but was tight lipped. 

This will depend on you investment goals and strategy, what repairs/updates are required, the local market, and how the deal is structured, @Wouter Lips.