Streamline your communication process to secure quality tenants.Focus on QualityThe condition of your property matters more now than ever.

I truly believe she had a medical condition and shouldn't even live in my house, should probably live in elderly housing or the like.

@Polat CaglayanI've never seen a formula but here is a general rule of thumb for multifamily:The class of an apartment refers to the quality of the building, which can be determined by a number of factors, including age, location, and condition: Class A: These are the highest quality apartments, typically built within the last 15 years.

What questions should I ask to understand the property’s condition and the heir’s willingness to sell?

Let the agent know that while you’re interested, the property’s condition and local comps don’t justify the asking price.Taking a warm, conversational approach can make negotiations smoother and improve your chances of getting the deal.

Evaluating the numbers, lending preferences, property condition, and location will help you make an informed decision that aligns with your investment goals.

**Letter of Intent (LOI)**: Though not legally binding, an LOI can outline the basic terms and conditions of a potential deal before the final contracts are drawn up, ensuring that all parties are on the same page.It's always wise to consult with a real estate attorney to ensure that your contracts comply with local laws and protect your interests.

Assuming this is a clean file, with no exceptions required, most Underwriters take anywhere from 48-72 hours to review a loan and get CTC, or provide further conditions. 

The December 2024 report from the Austin Board of REALTORS® (ABoR) shows stable housing prices and balanced market conditions in the Austin metro as we reached year’s end.

Second, working with a local real estate professional who has experience and expertise in the Phoenix market can be helpful in navigating the current market conditions.