It's not because they are making 3% by sending a contract over to a title company/lawyer and are collapsing under the weight of their moneystacks. 

I've been living in my home for 7+ years and I've seen the neighborhood change with some property owners renting out their homes instead of selling them.In that span of time, I have dealt with and encountered a slew of issues from many of the renters - the noise ordinance issue being the biggest complaint, based on many of the culprits blasting loud music from their cars at all hours of the day and night, with no regard for the time of day and who they were disturbing.Yes, I have called, the police - along with other neighbors, but being that I have lived the closest - with the culprits either living beside me, across from me and now adjacent to my bedroom windows as the others have either moved or stopped.The other issues have been lessened, like the previous renters shooting as they have moved, but all of this tension has been building.

Sometimes if people do not like the evaluation then they can try and stiff the appraiser with paying for it.With an appraisal for a bank, construction loan,etc. the appraiser has standards to meet and can be held more accountable so those reports tend to hold more weight on accuracy although an appraisal is just an opinion and not an absolute.No legal advice given.    

@Matthew Paul I like that expression, but I've never heard of that one - does that come from the Indiana Jones, 'switching sand bags' as weights in replacement of a gem stone/chalice scene?

Excellent reputation, and will add a lot more weight to your offer than a credit union.Also if the property is in DC proper....frankly you have very little chance of getting an offer accepted with an inspection contingency.  

However, there are a lot of hotels looking to build in and near downtown Waco and you best believe they will start lobbying and pushing their weight around to get STRs banned or regulated as much as possible when they start moving forward with development.

so you may be able to get some seller financing to lessen his tax bill....

I mean it makes me proud listening to them talk through all this with no HINT of this being an emergency. which they finally declared and there are pilots that can literally fly an entire career and never declare and emergency.Bottom line approach at their weight was about 140  this guy came barreling down final at 180 to 190 thats a big deal in a Commercial jet liner..  

As far as finding the property, a good realtor is worth their weight in gold!

One option to lessen the work would be to Joint Venture with someone already in the business.Good luck to you!