We have yet to have another appraisal completed but I estimate a new evaluation of $350,000.

Priced too high, rehab estimates too low, and they don't factor in the cost of selling (commissions and closing costs). 

Hey everyone,I’m new to REI and I’m wondering if you guys have any advice to share on coming up with rehab estimates when you’re just starting out, and don’t have a long track record to go off of?

Curious to hear from original poster how many bees was this (approximately)

I would run a cost estimate if you haven't. 

Here are the numbers I know so far:Rents4 units all currently occupied on one year leases- #1: 1/1 $995 monthly- #2: 1/1 $995 monthly- #3: 1/1 $995 monthly- #4: 2/1 $1,100 monthly- Gross rents: $4,085 monthlyExpenses- $12,070 taxes annually- $350 monthly insurance (my estimate, they have liability only right now)- $175 monthly landscaping- $120 water (electrical on separate meters, tenant pays)- Total expenses: $1,651 monthlyNOI around $2,434 before vacancy, maintenance, and management (although i would likely self-manage these)Property needs about $50K in other repairs and udpates from what I can see.

Zillow estimated it 215k.  

It's oversaturated with crappy wholesalers who don't know ARV and can't estimate repairs costs. 

There are an estimated 1 - 2 million crimes a year stopped by brandishing a gun and fewer than 600 deaths from accidental shootings.Pepper spray is not as effective.

Without a contract in place, and with no prices being quoted, or estimates made beforehand, we have what’s essentially an after the fact negotiation.