Like specific details that the seller upon a HML land development loan for soft costs will get $100,000 in exchange for simultaneously performing a quit claim of the property into the LLC that we are partners with the seller in.

You were claiming a cap rate would tell you when to sell.  

What I keep finding out is that my target price is always at least 20% below seller's asking price.Here are my rules/metrics:total economic loss after property is stable is 12% (15% in lower quality areas)incremental rent growth after the property is stable is 2%expenses grow by 2%/yearproperty tax is 90% of the purchase price multiplied by a local tax rate (usually doubles tax from whatever seller pays)payroll $1000-1200/unit regardless of the property size (brokers claim that 30-units don't need payroll but I don't believe them :-) )reserves of $300/unit counted in expensesexit cap rate is 100 basis points higher than current cap rate (e.g. exit at 8% if current cap rate is 7%)cash-on-cash ROI 10%+ starting in the second year; first year may be lower if this is a value-add5 years total ROI (assuming sale) is at least 100%IRR 15%+ over 5 years (al ROIs are net to investors after 20% sponsor override)I can adjust may metrics to some degree but in order for me to get to the seller's acceptable price I have to adjust most or all of them to unsustainable levels.So, what should I do other than keep underwriting and waiting until the market turns down and all of a sudden my numbers would make sense for a seller?

@Patrick Philip It's great that you want to have a massive cash buyers list, but 1,000's is fairly unrealistic.

I'd check with an attorney that handles claims like this.

So can go into a neighborhood's GIS system and look up what the individual parcels are assessed at and omit the building (also referred to as improvements), typically the real value of nearby parcels is somewhere between 50% and 75% of what the county claims; example: if the Fredericksburg GIS system claims that a certain house's land is assessed at 50K then your investor should NOT buy it at more than 37,500 at the VERY most.One MAJOR point to take into consideration is: an investor that you will help buying a parcel of land is an investor that will have less money to make future purchases.Good luck, and fee free to shoot me any questions as I'm very familiar with the Fredericksburg area and won't hesitate landing a helping hand to fellow BP.

I had to threaten to take her to small claims court and detail all the various grievances I'd bring against her in order to get my money back.)Basically, don't be a jerk and your tenants won't have any reason to be unhappy.

Thanks, Matt, it's been more than a year since the tax sale, so I believe that's also the timeline to claim those funds.

I know there are books out there claiming you don't need credit to get into real estate, but you then need all the ducks to fall into place.

I told my agent to tell them to submit it and try to sell their agent on it, selling season is over, house needs work, etc....That was last night, now they claim they have another offer that the seller wants to respond to before responding to me.