$400,000 seems extremely high for a rental property.

Hey BP Community,I’m working on a unique deal and could really use some guidance to bring it across the finish line.A broker that I have worked with in the past came to me with an opportunity that I am extremely interested in. 

In some cases, if the ARV is outlandish or the change in value is rapid and extreme (ex: purchasing for $100k last month, appraising for $500k thirty days later), it may need to be supported by a CDA or evidence of repairs/upgrades. 

Talk is cheap.So my last purchase (Dec 2031) was the extreme negative cash flow.  

BUT, being sued, and loosing is extremely rare if you're reasonable careful.

I think this is extreme price gouging, especially since we did not agree to pay that kind of money and if he was expecting that kind of money, he should not have awaited to the very end to tell us.  

You seem extremely confident in your initial claims, take me up on it.Either way, I do appreciate the honest feed back on my posts from both of you, I understand that NY is one of the hardest markets to succeed in, but I am a firm believer in the Stockdale Paradox (Jim Collins, Good to Great).Best,-JonThis wasn't a back and forth.

That's extremely helpful. 

That's an extremely rare opportunity though. 

To put it nicely, I would proceed with extreme extreme caution, if I were in your shoes.