Back in April of 2012 when I was looking to buy a house in Los Angeles I seriously met with a realtor and she told me I should wait because she thought the market would drop further.

Hi @Jonathan Klemm, I'm currently with HomeSite, but they're dropping me because they no longer insure 3-flats.

They said they have been putting the rent in a drop box to pay the rent at the closed realty office.

My only backup plan if I can't get verified funds is to assume the worst and to drop my counter offer even lower than my original due to the risk I would be taking on, and then when I do my in person inspection try and guess what rents are fair market for the empty units, and ask as many tenants as I can what they pay in rents monthly.

From 75%-80% the hit drops to 3.375% & from 70.1-to 75% it drops to 2.125%.

I've had my contractor pour a leveling liquid over sections of floor and then run LVP or carpet overtop to correct for a few inches (1-3 inches) in drop in a room or two.

If you list higher, have a plan of when and how much to drop pricing--then stick to it. 

Instead, you want to find out about the property owners in the area and keep in touch with them long term via periodic calls/messages, emails, drop-bys, mailers, etc.- FSBO: Free seller leads on Zillow.

Not impossible that this certain local prices have dropped that much.

After I managed to creatively finance it, this deal isn’t going to cash flow at all for the first 3 years until the 3rd note drops off, and after 5 years when the 2nd note drops off it will cash flow at least $250/unit/month.