I’m approaching with the intent to owner occupy.  

My dad brought my family here with nothing but a 100 dollar bill in his pocket, true story.

I like your approach very much.

Loan requirements change time to time and from bank to bank, so you have to check what the currently are, and you already got some good comments.Just to forewarn you when I approach banks to get my NOO mortgage, and if you tell them the down payment is from a HELOC, the answer is "NO, you cannot use it, it got to be seasoned funds".

The increase is from $50/unit due to the "Clean water Atlanta" project, which mirrors the numbers you mentioned.They compare Atlanta to NY, and if my tenant's usage approached the average usage, I'll be paying almost as much as you.

@Christopher Howard I am not a fan of this approach.

Simple...you should test the approach of achieving the goal to bid offensively low (if on AdWords) to get as cheap CPC as possible so that we can get as many clicks and leads for our budget that is physically allowed.

I am going to approach the seller and see if we can work something out.

If your strategy is different, you may take a different approach.

Whats the right way to approach this?