@Naeem Boucher - It's a very rough and general rule of thumb that you should not use. lolIn my opinion you should only apply an expense ration for a certain type of property after you've run enough full analysis to recognize the pattern that applies.  

Went with beveled subway tile in a herringbone pattern.

That pattern of bumping along the bottom.

HUD had a transition in Asset Managers last month (Although the names of the companies changed the personnel remained the same but the Southwest region has gone form 3 to 2 asset managers with one company Sage getting the bulk of the listingsSaying that , it also appears that the pattern of accepting bids has changed.  88% still seems to be the counter range for most bids.

You could keep them in a holding pattern for a few days or more to see if a stronger candidate comes in, but you need defendable criteria to show that they are weaker due to non-discriminatory factors.

For instance, if they have a long history and pattern of various types of accounts going to collections - like phone bills, credit cards, car payments, utility accounts, etc - then I am going to pass on having them as my tenants. 

Curious what a local thinks of the development pattern, the push to West Asheville etc.

Then someone can look at it and say that is a pattern to commit fraud.

They sell it in tile pattern and in a simulated hardwood look and maybe more patterns..

Which is one of the worst behavior patterns an investor can have!