Then again maybe I'm placing too much faith in my tenants.

Likewise, if the property turns out to be in much better shape than you expected, thus making your calculated expenses much too high, you might consider dealing in good faith and raising your offer to reflect that.

Whenever I inherit a tenant, I always show a good faith effort.  

I know that based on their income they bring in plenty to cover it, and they also know how important that property is to my wife and I, so I really am just relying on faith on this one, something I won't do on my next property...In addition, commenting on Brandon's multifamily video, I would like to purchase my first rental as a single family and then work my way up to multi-family.

I was looking on Minnesota's page about this, but I'm a little confused about this:Subd. 2.Interest.Any deposit of money shall not be considered received in a fiduciary capacity within the meaning of section 82.55, subdivision 26, but shall be held by the landlord for the tenant who is party to the agreement and shall bear simple noncompounded interest at the rate of three percent per annum until August 1, 2003, and one percent per annum thereafter, computed from the first day of the next month following the full payment of the deposit to the last day of the month in which the landlord, in good faith, complies with the requirements of subdivision 3 or to the date upon which judgment is entered in any civil action involving the landlord's liability for the deposit, whichever date is earlier.

My lessons learned were that with a little faith and hard work anything is possible.

Keep the Faith, 'thankful for this community. 

ETC.Statistically, you are more likely to negotiate a good deal by showing good faith yourself. 

Regarding your concern about appraisal, your inspector will do the inspection on your home in good faith which will give you all the information about the property condition.

I also told her that I was still open to being more flexible than all of it by May 18th, but she needed to present me with a doable payment plan and show me a good faith effort.