Duplex appraised 380 (super ****ing low ball) brings in an estimated 3,900 a month in rents. buyer agreed and SIGNED addendum to purchase at 397,500. day of closing they dont show, tell us they didnt know what they agreed to pay over appraised value and are trying to get us to accept 386k. my agent had me lock in our month to month long term tenant to a year lease for THEIR lender and now they pull this.. they have only 5k in escrow account.. my agent wont reduce his commission from 3%-2% to help bridge the gap. suggestions?? 

You are best off to raise the rent and give the tenant the option to stay.Also, I hear a lot on here that "rents should be", "the potential rents are"... make sure that you do your due diligence when calculating potential rents because most new owner OVER estimate them.

That is roughly 9% rent price appreciation over the original rent estimates. 

It is estimated that in 2020 alone $48 Billion was invested in new projects in over 3800 different census tracts.

Just make sure to research your local rental market and get comfortable estimating rehab costs.It’s a smart plan, and you’re off to a great start.

It can affect estimated replacement cost and therefore the amount of coverage recommended/required.  

I'm glad to help with info, or potential rental estimates for properties you're thinking about on the STR side.

Not calculating maintenance expense could end up being a nightmare.I always estimate (using either the 50%, 1% or square footage rule) the annual maintenance / first year of maintenance fees for a ALL rental property.

@Daniel Tanasa What would you estimate the time investment would be each week with property management?

Using Rentometer or BP rent estimator to get an idea of the LTR rent makes a lot of sense.