My wife and I are thinking about making a low ball offer on a row house in the Bronx.Ask: $400,000 (not worth this, no question)Been on the market for a yearThe house has got character!

Look; I'm a good guy - I'm not looking to break your balls here - but if EYE am seeing this stuff - who Else might be noticing things too?

It makes sense on many levels that you have pointed out.One curve ball here that I forgot to mention about my situation and how it needs to play out for us.

When we show our SFH or units in our family oriented buildings, I bring a small childrens' table, colouring books, and crayons and have also brought a video game and, once a soccer ball (fenced back yard). 

No problem, we'll need to value the collateral of the site, all your property, your first born and their ball card collection.

We are eye-balling some other properties (one multi) here in town.

This will be a good exercise that you will learn from. 

These surplus properties are a whole new ball game because you really don't know the condition of these properties until you go to sell them or rehab them.  

@Tim Ball here is the fastest way to grow your buyers list.

Now this is kept simple for this exercise and I am not going to look at real cash flows or taxation effects.So, you buy for $500,000.00 and get a mortgage for $400,000.00 and spend $30,000.00 on improvements.