Does the PM have competitive data to show you that you are too high? 

I'm told there is no competition in 99724 Beaver Alaska. ;-)It's competition that makes us STRONG!

Back in the good ole days,  2008-2009, I purchased every Hud property that I put an offer on for under 50%...Fast forward..Lot more competition and stronger market...GL

I don't like competition.

Home buyers have very little common scenes when valuing a home purchase and  being your major competition you will buy above a reasonable level.

Look at your competition; what condition or features do those units have? 

We know what the rents are, what the vacancy is, what the competitive rents are, have estimated per-unit and site rehab costs, after-purchase taxes, etc.  

What is a fair/competitive offer for % of the buyers' commission that we'd share?

However, if you can acquire these properties in some other fashion you may be competitive and have multiple options in the marketplace here.

My wife and I are looking for our first home and, since the market is super competitive right now, we're trying to think outside of the box whenever we come across a property.The property we have in mind touches both it's frontage street and the street behind it.