There's nothing wrong with where your your present cleanout is located.

Purchase price: $1,200,000 This is a 100+ pad community located near Downtown Bloomington (Near Indiana University).

Purchase price: $1,200,000 This is a 100+ pad community located near Downtown Bloomington (Near Indiana University).

You could tell them to cancel the listing and you will find someone else to list it after a month not 4 months (the market take is subjective too, all dependent on what your house has compared to others, where it is located, the size of it, and so many other factors).

Purchase price: $1,200,000 This is a 100+ pad community located near Downtown Bloomington (Near Indiana University).

If it's a deal that is in a very very desirable location and has tons of built in equity and appreciation, I would be totally good with negative cash flow for Y1 and Y2.

I could argue that, for the most of us 10 to 20mm is a good stopping point unless you want super yachts, jets, huge mansions or many personal homes in different locations, etc, etc. which most of us will never get to., or need.

Our group works with a lot of investor buyers in both locations you mentioned.  

They want to sell for as much as possible.Use the broker's pro forma as a thumb to the wind guide for your interest along with the rest of the offering memo (right location, asset class, etc.). 

With 30% vacancy in the area, filling space could be a challenge.They are actually all above market rent, likely because of its prime location and quality of the build.NNN leases are great for minimizing expenses, but how much control do you actually have?