You said it's been a while since you used a portfolio loan, so how did you arrive at a conclusion with just the rent and asking price as an input?

I just sent my letters out 3 days ago, The letters arrived yesterday to the people and I got 4 calls.None so far today though... :/  but this gives me a bit of time to catch up and do some analysis.

You really should double/triple check how you are arriving at that number. 

You probably also want to do a walk-through of the unit prior to returning the deposit to ensure that there is no damage that you should be collecting for (you don't want the new guy to be paying for damage done before he arrived).I'm not an attorney (nor am I a tremendously experience landlord), so take that for what it's worth...

@Nick Hedberg Nick a dispersal extension is a paper acknowledging it is ok with you if the title company waits until the docs arrive to disperse funds.

(There just cannot possibly be that many people from Europe who love my houses so much that they are willing to rent them without seeing them and before they arrive in this Country.)

and or deposit it directley in  your bank account so you have that record and just keep a diary noting any tranactions, such as when the money arrived and any other informtion pretaining to their apartment.  

After arriving and a quick lunch at an awesome 6,500 KRW buffet (with fresh vegetables growing outside the restaurant), we were off to see the first property.

I ordered the cabinets online and they took over 3 weeks to arrive which really held us up.

How are you arriving at your offer price?