Returns an individual gets are based on market conditions and individual investor savvy. 

I made him a conditional offer of $40K cash and he refused; says its too low and that he is going to go to his previous offer (which he apparently forgot he told me was $35K). 

I'm starting to look at properties in a 1 hour radius (which includes Columbia, SC and Charlotte, NC), with the condition of finding a good PM, instead of self-managing them (as I currently do with my 2 rentals), but I'm still having a hard time finding good 12% cap rate deals.

We noticed how very inexpensive it is to purchase there, yet the cost of living very high.We spoke to a relative who lives over there who also rents out a place and hires a property managing firm that ensures the rent is paid and all is in good condition at a very reasonable rate.

It's turned out to be a live-in flip/rehab of sorts as we plan on selling it in a few months given the very favorable market conditions in our area.

Since you somewhat have control over the price, mark it up by 2000 and give that as a bonus to the buyer's agent.Also, a key factor in a home selling is the condition.  

My other selling point is the owner will make more money selling move in condition home versus selling a fixer upper and on top of that he will attract more buyers who can obtain conventional loans.

There's one in decent condition in Statesville for 15k.  

He isn't thrilled with tying up 5 houses but like they say beggars can't be choosers.Do you know how much emphasis they place on condition?

We can close fast and will buy the property in any situation and condition. please call me anytime.