The asking price may not, and probably doesn’t, reflect the appraised value,  If you can negotiate 25% off the sellers asking price, then most probably the asking price is 20% or more over appraised value.Also, when the OP states that he’s hoping he can “broker” the deal to bring the price down, I think he means he’s hoping to “negotiate” the price as brokering actually means representing a principal, not negotiating a price.   

Account ClosedI have put a list loosely reflecting the areas in terms of ranking?

The problem I’m seeing is the spending spree across the globe has been so reckless that virtually zero thought has gone into potential risks, so the properties are not trading at discounts to reflect any risk.

Are we taking about two different things or were you just throwing example numbers out not intending them to reflect your actual position? 

I have been looking mostly at post 1978 properties due to this as well as unincorporated matters, but the prices definitely reflect that they are non rent controlled. 

I have seen properties sold in 2018 re-assessed and 2019 tax bill reflecting the sales price.  

Regular rent around $1440 a month (cash flow: $360, CoC: 11.8%) with around $80k in pocket after refi for purchase of other properties (rise in expenses expected with insurance, utilities and such, numbers reflect it).

You can do it with just one bank account and one quickbooks account, but you need to set up separate classes for each property in quickbooks that correspond to each property and make sure each deposit/debit reflects the correct class for every transition.   

So the letters from the neighborhood went unread, a court document with a felons sentence who was illegally occupying the property, provided by the county clerk that day, in-admissible because it was not certified.....all copies of correspondence from plumbers, septic providers and general emails, not admissible, all hear say unless they show up to testify...In a small town, that's a tough pill to swallow and most people don't want to get involved.So a bad tenant, (who went through the background credit check) ends up 5 months of no rent, added a pit bill to a non-pet property, added a boyfriend, (not on the lease) who later became a felon (now in prison) after he aimed a rifle at the sheriff's deputy on a neighborhood complaint, non admissible....hearsay, even though the address of the felon in the court records reflects he resided at the property.No, we did not have an attorney because we thought it would be a no-brainer.....the court system offered no advance help on what would be involved in this process......we'll see what the judge decides....the tenant brought her child to the courtroom, pleading that she has no where to go....Meanwhile, the owner who we represent, legally blind, who lived too far to travel, has a property that was a nice property until this tenant decided to change the flavor of a good neighborhood and put everyone through living hell.

You will be able to count 75% of rental income towards your DTI’s, if they are too soon to reflect on your taxes.