{M}IRR may only be 2-3%I concede to your point that $5K is not likely going to have Mark circling the drain ... but, in my experience, most {residential} realtors have a built-in positive bias ... so, if his realtor thinks the property is only worth $110K, there is a strong possibility the business may only be worth $100K ... or even less.Math doesn't lie ... get the actual data (2 - 3 years worth) and run a full analysis.

If they do concede that in the final deal, will they basically be adding $2k to whatever their final number really was?

If you don't honor your contract, a lack of planning on your part doesn't mean I will concede contractual language.If someone knows you own these rent houses they realize you could work with them.

Under Rev Proc 87-56 we generally assign class life not by what the equipment is, but by what activity type it is used in, with limited exception (the "00" class lives).I concede it would be rare for a rental operation to own construction equipment. 

I think you and Mike had similar points about the degree of distress some sellers are in, which I concede, I may be underestimating.

If they don't concede, walk away.

I even admitted that I would concede I am wrong if Tim could produce evidence that the TSA guy ORDERED the kid to take his shirt off.

What factors have you conceded to make such determination?

That's a very unlikely situation anywhere else, even Temecula :) I concede that I did not outline all the details for the property.

If the owner concedes to leaving, then maybe this is viable, but probably not.