Look at the date of preapproval (over 60 days old is a warning sign but not a big deal)2.

My 14 year old now makes over $100/month passive income from her % owned and my 10 year old is at like $65/month.In this process we are building their interest in real estate, teaching them the value of putting their money to work for them, and all the while growing our investment if we need it for their college money some day! 

Let me know if you want to chat further, I can send over details as well.

My girlfriend and I have been looking at properties over the last couple of months due to life situations changing and having a decent chunk of change saved for a down payment.

Deals come from all over the country!

Generally need to show 90% occupancy over past 90 days. 

Is your Adjusted Gross Income over $150k where you can't reduce your income with rental losses?

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

These are things I would go over with the agents, and get the in there to see what is going on. 

I've run into some issues where clients get a little anxious over a valuation that came in low or a condition comes up that is fairly minor.