The seller has nothing to gain, and only the ability to lose by agreeing to adjust the contract at this stage.Order the appraisal on day 1, and you should have plenty of time to get it back in the 21 day period.

So if you're investing in multiple deals, you'll need to gain some understanding of the markets, review sponsor track records, verify their financials projections make sense and that they're using reasonable assumptions, make sure the fees aren't excessive (fees vary for each deal).

@Dustin, if you are looking for passive investments but want to benefit from scale, you may also want to look into DSTs and the new " Opportunity Zone Funds ". 

I do listen to excellent podcasts on Bigger Pockets and am currently in process of doing my second "buy and hold" deal most probably in Jacksonville FL.To all my knowledgeable friends here,  I want to say you do a  "Great Job" teaching others (through discussions) so that Real estate becomes a joyful adventure where newbie investors like me can gain from superb advice !!

@Manuel Naranjo As long as you didn't use the home sale gain exclusion on another property in the last 2 years, you should qualify for the full exclusion.IRC §121(b)(5)(C)(ii)(I) states that otherwise nonqualified (e.g., rental) use would not include any period after the last date that the property is used as the principal residence of the taxpayer or the taxpayer's spouse, so it essentially doesn't matter that it was a rental from December 2014 - June 2017 for purposes of the home sale gain exclusion since the last date you lived in the property as your principal residence was before you rented it out.Depreciation recapture is another story.

We are just starting out in real estate and are looking to mainly set up passive income, but not exclusively.  

Hi,I have been a passive reader in this forum so far.

Looking to invest in single family or multi-family for passive rental income.

Just because you do have a gain on your adjusted basis and it does not sound like it was your primary residence, and able to avoid any gain.

@Andy Rousch, I recommend you look at the Philadelphia and Allentown markets if you want to be a passive investor, or stay in your local community if you want to be hands-on.