I work with a high volume Real Estate company located down here in the Cincinnati area and also own some rentals myself and worked on a few fix and flips.  

If you try to cut the agent's throat on the fee bad news travel in a hurry, and no one will work with you.

The cost would be a lot higher but you pay for a better location.

Granted, being in a very prime location, it may have simply been a mispriced asset sold to me at a bargain rate.

Find/Get a Team of members that are critical to help you get things done, are experienced at what you are doing, local, and will return your phone calls promptly.Another thing you ought to get done decides a plan and goals that are both written down and where you will see them and read them every day, have a office located where you will have less distractions.  

Located in stoughto ma.

The typical buyer is 1031 exchange, retiree, estate planning, foreign buyer, or ultra high net worth that wants cash flow but safety so will take reduced yield for quality.We stick to strong suburban to urban locations.

Some of these properties are unusually shaped, heavily over grown, but not necessarily in horrible locations (on a busy road, in a dangerous neighborhood).

(Seller needs the equity out asap, so seller-financing is out)As for the deal itself:       Located a few towns over from me (but not far enough where management would be a hassle), right near the better part of the borough, near the middle school, very close to stores & very close to where new construction is being planned & the area is on an upswing.2 - 2 bedrooms (1150-1200/each)4 - 1 bedrooms (850-900/each)Going inside it this week, but from my walks around the outside, I'm ballparking about 100k in renoSeller asking for 200kTaxes as-is about 6500Seller states all zoning approvals & site-planning have been completed, only thing left to do is pull permits and put nails to woodAs of right now, my immediate plan would be to sit down w/ the commercial people at my lender's, assess my standing, and start all the other due diligence common with a typical, residential purchase.

If your rental is located on a back street that doesn't have a lot of traffic, you may be able to use a bandit sign on a close by busy street to alert passer byes that a rental is available round the corner, or something like that.