It's costing us upwards of $3,500 to reverse.But the real nail in the coffin is that we suddenly had the county inspector rock up at our house and red flag it saying that they were notified that we are having "unpermitted work being done in our kitchen"?!

I don't expect her to all of a sudden have the passion for real estate that I do, but I'm worried I won't be able to capitalize on our current opportunity.

What I keep finding out is that my target price is always at least 20% below seller's asking price.Here are my rules/metrics:total economic loss after property is stable is 12% (15% in lower quality areas)incremental rent growth after the property is stable is 2%expenses grow by 2%/yearproperty tax is 90% of the purchase price multiplied by a local tax rate (usually doubles tax from whatever seller pays)payroll $1000-1200/unit regardless of the property size (brokers claim that 30-units don't need payroll but I don't believe them :-) )reserves of $300/unit counted in expensesexit cap rate is 100 basis points higher than current cap rate (e.g. exit at 8% if current cap rate is 7%)cash-on-cash ROI 10%+ starting in the second year; first year may be lower if this is a value-add5 years total ROI (assuming sale) is at least 100%IRR 15%+ over 5 years (al ROIs are net to investors after 20% sponsor override)I can adjust may metrics to some degree but in order for me to get to the seller's acceptable price I have to adjust most or all of them to unsustainable levels.So, what should I do other than keep underwriting and waiting until the market turns down and all of a sudden my numbers would make sense for a seller?

Stumbled on a few of my words in the beginning and then the movie "the wolf of wall street" kicked into me head and I suddenly got a lot more confident talking to the agent.

I have several commercial loans on several different types of properties with this bank and all of a sudden, done.

If I have a broker representing me and we come across a seller that has does not have representation, my broker can all of a sudden change from having a responsibility to me to a responsibility equal with seller.

If the economy were to turn bad and your occupancy drop to 80% you would suddenly not be able to pay your investors.

How come you can lease your unit all of a sudden? 

If you only have a couple thousand dollars, no access to other funds, and a sudden need for 4K-5K crops up that causes issues I would consider waiting a few months.

So maybe the Dayton OH idea is suddenly sounding better...But I digress.