Trash pickup - bags on the street in MO vs bins in KSRoad conditions and plowing - better roads and more frequent plowing in KS Years of construction - Kansas is mostly 1960s and newer, MO has the older buildings - 1900s and newer.

Our current economic conditions are challenging for cash flow in most markets, but I wouldn't let that stop me from diving in. 

If you fail to remove icy conditions from the sidewalk after a winter storm and your neighbor slips and falls while walking their dog do you really believe they cannot sue whomever is the property owner because there is no contract?

People are now locating their properties and trying to find people to manage or even if they have tenants, who is paying, who is not and finding the homes to be in sub par condition.

The problem with buying something in near perfect condition is you need the market to really perform to see appreciation.

You will need to factor in rehab costs, which could easily eat up another $50-75k depending on the condition.

How long has it been on the market, what condition is it in, what do the numbers say?

Federal programs will require you to use GC/licensed folks for a lot of the work and they will get reimbursed by the institution that your loan is with; many GCs don't want to wait on the float time of requesting funds and getting them.Depending on the program and rehab/condition of the home, you may not be required to live in the home (think black mold remediation...bank isn't going to put you in a compromised position) however they may have min/max of when you need to move in.

I have a little hard time estimating a fair market value given these conditions as I don't know how much to discount the value of the house with these issues presented.

It seems like a great time to revisit the conversation, especially considering how rates and market conditions have shifted over the past nine months.