The great thing about investing is that there are no called strikes.

The strike price can follow the declining principal balance.

That's strike 1 for me, UNLESS the 140K is ultra-conservative or unless the Cash on Cash or CAP is excellent.2.

Strike 3.  

On line 14 where it states "Application of Rental Income"...it says section 1402(a) is amended by striking paragraph 1.

The cost to fix known issues should be included in the strike price or you should know that it's not a real issue.

—Subsection (a) of section 121 is amended—(1) by striking “5-year period” and inserting “8-year period”, and(2) by striking “2 years” and inserting “5 years”. 

It just seems that most of my analysis is putting my strike price usually ~25% below what is being offered.

@Ali QudsiUnless you are some not-for-profit organization - you will be required to pay property taxes.There are some instances that you buy a newly developed land/building and the county strikes a deal with you that you won't have to pay property taxes for X years but will ultimately have to pay them once the period is over.You can decrease your taxable income related to rental properties with depreciation.

@Ryan D.Did you notice the two charts ( Real Estate cycle and the Case Shiller top 20 index largest metros) are striking similar?