However, it has a tiny single car garage, I have a two car garage, and a breezeway which is about 200 sq ft (not sure if this adds sq ft, but I have been thinking about combing this room and my kitchen to increase the sq footage).

I realize these dollar amounts are tiny but was really just trying to get my first deal under my belt and it ended up going into a world I am not familiar with.

The problem is that tiny mortgages are hard to sell, so the bank has to carry their own paper.

Rather than a tent, maybe a "tiny home" kit placed on a large lot that you can rent out separately later.

Grant is right that, in theory, if you're gonna take the time to do a deal, might as well do a mega-deal (massive apt complex) than a tiny deal (1 SFR).

After a few months of this you are at 154k to 156k when if you would have reduced more earlier and been a deal you would have already closed for more money.That is why you do not chase a market down with tiny drops as it does nothing.

Market: Portsmouth, VA The good:Refinished hardwood floors that are lovelyNice looking neighborhood and streetBig living / dining / kitchen / front sitting porchThe bad: Duplex that rents for max $800 each unit, mortgage is $1800 (2 units that are 2/1), tends to attract young navy couples who move away in a yearBottom unit has been empty since SeptemberI live out of stateThey just put expensive tolls in for the tunnelsRanked some of the worst schools in the USUpstairs has a failing A/CDownstairs has no central air, and a gas boiler heater on it's last legsSmall bedrooms with tiny closetsThe garage looks like a murder shack with doors hanging offCeiling in downstairs bath has a bit of water damage that is uglyMy thoughts:I'm going to try to see if I can refinance it and roll a bunch of these expensive repairs into it (new A/C for both units, fix garage up, etc). 

If you save a tiny percentage on the rate, but the lender is a nightmare to work with, it may not be worth it.

You are essentially doing their job and only getting a tiny trans fee.If you want to do commercial then do not waste time at a mom and pop brokerage where they occasionally sell a mom and pop property or piece of land for re-zoning.

I think it would be better for both sides to get a tiny bit of profits.