Since you are saying 25-30k in rehab costs, it sounds like you will be doing at least a kitchen and/or bath at a minimum.So even in best case scenario on the second one - 60 days, let's say - and your average days on market is 45 days, that's 105 days from the day you close until the day you accept an offer.

My obvious concern is that we'd put $60k into it, have it off the market for a while to get there, arrive in September/October and find ourselves having to accept an offer at $380k. 

One caveat my child was accepted into a special program at a school in Olympia and I am trying to keep the property in the district.

Please accept my request.

I am purchasing a SFR from an auction site with 30 day closing (stipulated in the contract).  The town asked that an occupancy certificate be obtained requiring an inspection.  It wasn't done within the 30 days so the...

Are people just accepting lower returns or negative cash flow?

This is essential for surviving in this business.I would not have accepted any money from them. 

Now my offer has not been accepted, but if this were you and since now we are dealing with after the fact what would you do?

Thank you for your acceptance!

Return on Equity is always a great barometer to watch and to see if that equity could get better returns leveraged somewhere else, if that person is willing to accept the risk associated with it.