Either way as of now I can get the place below market value...But how much I am not sure.

Since you plan on using this for acquisition purposes, the rate can not be beat even if it were to jump up 4 points over the next year, you would still be below what a HML would charge, plus no points.

You make think they are low, but they could still not be low enough.

Their latest earnings report was below expectations.

However, I just bought a new home for myself, and since I WANTED it, I paid full retail.Properties can certainly be had for 50% below market value.

A strong appraisal showing the property was purchased below market value, repair work done, and inside/outside before/after pics shold be enough.

I made a dollar an hour for shoveling gravel or cleaning up job sites...lol

If this is both below market and a good cash flowing property it sounds like it is definitely worth pursuing but do some research.

I'm just below you in Florida where its really hard to sell and I don't know how fast you're wanting to move it but what I typically do is list on MLS and keep dropping 3% every 2 weeks until it gets to a price where I start getting bites.

I've had at least one where they bank ended up dropping the price below the last offer I had on the table.