The exit value quoted was accurate and after some negotiations on my part, the price reduced down to what made sense for me.Deal closed today and I will update you all on the progress of this flip.

Is it common for a landlord to negotiate the cost of rent to a tenant , For example say if a landlord has a property on the market for $700 and the tenant asks can the rent be reduced to $650 will a landlord consider changing the monthly rent cost?

You are reducing your diversification, but ideally gaining efficiently and scale.  

Ask the best way at the recorder of deeds office to reduce those costs, but the liens must be perfected on each legal description.Insurance agent can go with an umbrella, call them.Call the title company and get a bid, they should be cutting you slack on some aspects, not charging the standard settlement fee 16 times, there is one settlement that has 16 times the work involved.From this information you'll get an idea of which way to proceed, 16 notes or one note.If one "blanket note" you need release fees for each property in the event you ever sell one property you don't have a huge note to pay off.

:@J Martin  it's been on market 32 days and recently reduced.

The good news is that the fine is reduced to $1000, after I submitted a nice and polite letter.I asked PM why the fines not following the formal process starting from warning.

For over $80K/yr gross rents in future on $500K purchase (just under $200K in cash w/ conventional 30yr fixed.) if you can hold out and let the rents reduce your mortgage in the mean time..How long will it take to get there?

On Jan 1 2015  the sale price is 30k and will be reduced by $250 every month until the tenants buy the house if the ever do.

Not a bad strategy to reduce your out of pocket.  

The people buying for cheap will reduce market rent rates to lease up fast bringing the market down permanently or at least for 3 to 6 months.