The early release was a small token and only $6500, so not a matter of life or death, but more on the principle of things here.

We agreed to a 45 day close with pre-approved buyers on the ONLY 3 bed 2 bath house for sale at the beginning of August.  

Total Monthly rents = $2,150Asking Price = $200,000Yearly taxes = $950All units are 2 bed 1 bath.Rent is slightly below market, could be raised $40-50 per unit.1960's construction, hard wood floors, brick exterior, new HVAC last year, seems to be in overall good condition (no deferred maintenance to speak of).

I look for partner splits, health issues, divorce, owner wants to retire, owner needs to focus attention on larger properties they own not doing well, death, etc.The business is established a long time and the good price is coming from the sellers need and NOT that the business isn't sound or it's taking a dive.

Recenty I've begun investing in a lower income area (row homes under $35K for three bed, two bath) with some neighborhoods better to buy in, others better to avoid like most places. 

You can just go down the checklist; How many beds, baths, sq. ft?

In addition to our regular criteria comparing size and style of house, bed/bath, acreage, age, etc, we might toss assessed value in there just to see what comparably assessed properties are selling for.Another way I've used the assessment is to calculate a ratio of assessed value to sales price.

Other than hating the roof, the house looks nice and I agree with everyone else that you'd be much better served just spending the money on some nice landscaping beds to focus in on the pretty front window (no shutters needed...).

But the day he was supposed to come out, he had a "death in the family" and had to leave town.  

I don't know how much - talk to a local realtor who does a lot of condo sales in the area, they should be able to tell you how much an extra bath/bed  (or lack of bath/bed) could change the value. !