Despite the guru fed “misinformation” about all these under market price deals, they are actually very rare and require (1) the investor recognizing value that the seller and the rest of the market misses or (2) a seller with a need for an immediate sale and a buyer with the CASH immediately available to conclude a very quick closing usually forgoing inspections, financing, and other contingencies. 

My jaw dropped open at that amount for only 4 properties.

He believes that area where he will be buying the new homes is going to appreciate and attract more MTRenters, but now, the big difference is that he would now have 3 properties that can go up (or potentially down) in value, go up (or down) in rent, and three times as many vacancies to fill.My back of the napkin assessment is that for only a drop in $200 a month in cash flow, he would control a lot more assets with growth potential and as rents rise over the coming years, the combined rents will increase to a total more than the single rent.HOWEVER.

@Rene Hosman As a property manager with 20 years experience and a portfolio of 1,000+ single family homes, I can say concessions like reduced rent rarely work well for smaller landlords.

They had listed it for $40k more in 8/24 and dropped consistently until 12/24, when I made my offer.

The bank is coming out for an appraisal so I can drop my PMI (woohoo!!). 

“Perfect BRRRRs” are rare nowadays.

Fair warning - best, lowest rates, and lowest costs rarely go in the same sentence together, especially in lending.

In our area, it is rare to find a gas station where the real estate is owned by the operator.

I lead our DST due diligence within our RIA, and what you are experiencing is unfortunate and rare if you have the right sponsor.