Typerider,While I understand what you're saying; however, to compare to an inheritance is borderline insulting :) I'm taking a year of my live to sacrifice away from my nice home and cozy crap to work 12 hour days/7days a week, sleep on a little cot in a warzone because I can see the bigger picture.

If comps, meaning recent (<90 days) comparable (ideally same floor plan, at least similar sq.ft., same beds and baths, similar location) sales are $149-167 I'd think a listing price under $149 would be in your best interest.

And if you treat it as one and do the things you need to do, it will reward you very handsomely.

The Realtor told me that's why I don't get many "deals", because I refuse to overpay I guess.Anyway when I got back from the meeting I went into the MLS and found at least 10 that were probably pretty comparable, without going and looking in them.

This is relatively low compared to other islands with a similar level of development where properties can sell for $500 - $750 per square foot.The good news for investors and absentee owners is that the rental income here is relatively high compared to the purchase costs of the property, especially for properties with great views and/or easy access to the beach, which can generate anywhere between US $2500 and US$6000 per month ( depending on the size of the property).

Have you checked the recent sales data in that area to determine how past sales compare to the price-range that you are comfortable with, or is it more or less likely that you will be able to obtain a property in the price-range you are looking for?

With an understanding of reasonable offer prices, market comparables, and contracts, as well as a decent (I think) network of investors, do you think it is reasonable to start making offers?

I am also about 500 meters from what they call the new "downtown" and investments overall have been exploding in my direct area (keep in mind this is a city of about 375 000 souls so it's definitely not NYC type of downtown but it's still a MAJOR change compared to what has happened in the last 20 years or so) I am curious as to what all these changes will bring me in terms of property appreciation?

The difference between the water bill and property tax bill compared to all others is that not paying the water and property tax bills can result in a lien being placed on your property (this may not be true in all areas, but is true in all of the areas in which I invest).

For all of the SFH that I have looked at so far, the numbers do not work out for rentals (on their own), especially when you compare them to the MFH.