So, working hourly for successful RE broker or a PMC will be your best opportunities.

Usually a pattern will emerge on a 'normal' deal in your area.

Not to mention what is your opportunity cost on that? 

I learned my lesson and am keeping reserves  for emergencies and lower LTV on financing.

Several months in, what they were really saying is "We are going to help you squeeze every dollar out of your guests when you have the opportunity." 

They will be impressed with your determination and this gives you the opportunity to prove how much traffic you can bring into their home.Call expired listings Every day you should monitor the MLS in the areas that you target.

I am considering offering him $1.8m with a low (or no) down payment and seller financing at a low interest rate so I can at least break even on cash flow after getting rent closer to market value and with upside potential as a MTR and strong  appreciation opportunity.

Possibly some good opportunities there to (for better or worse) capitalize on the depressed market, but income and infrastructure will take a while to rebound. 

Property ClassProperties are categorized by class, impacting their quality, condition, and investment profile:Class A: High-end, newly built, prime locations, attractive to institutional investors.Class B: Good quality, older than Class A, with minor deferred maintenance.Class C: Older properties with dated amenities, but value-add opportunities exist.Class D: Distressed properties in less desirable locations with high risks but potential for significant improvement.4.

It could be a nice opportunity however I would be certain they will want you to make up the difference between $250,000 and whatever is left on the mortgage which btw in my opinion should be done with lender's knowledge and approval.