If they have a good interest rate it might be worth looking to see if you could assume their loan to take advantage of the lower rate.  

. -- Thus, you can expect to get Class C or D tenants, which have a 15-25% probability of defaulting on their lease payments.2) If your PMC is lowering FICO to 550, what are they doing to improve their screening in other areas?

But as far monthly payment you could easily buy a house in a cheaper location have less roommates and the same monthly payment or the same number of roommates and a lower monthly payment.

With the fund I used, they had a month where they had a few defaults, the return was a bit lower, and they sent out an email apologizing for the lower yield. 

Regarding price, do you have any suggestions on how I can get him to agree to a lower price?

For example it does not consider who pay the utilities, obviously if the LL pays all the utilities, the net is lower. 

I haven't seen prices drop too dramatically but I have seen homes in my buy box sitting on the market longer and some lowering prices. 

There's usually a good reason why the entry points are lower.

Once we lowered the price to $1 less than everyone in town we filled right up.

.$300k mortgage at 7.25% (30-year): $2,046$300k mortgage at 7.6% (40-year): $1,996Technically, it lowers the monthly, but not by much once factoring in the rate adjustment.