Do we accept putting additional cash into our first deal or do we keep our eyes open for another deal.Original Offer:Price: 153k ($31k into the deal)Anticipated rent: $2,000k/monthOperating expenses: $9.4k / year (includes management, cap ex, vacancy, taxes, insurance, etc.)Cashflow: $4.2k / yearCash on Cash return: 13.68%The appraisal came in at 146k and they raised some very valid points on why the property was not worth 153.  

There's a zombie duplex (with an additional trashed single wide) that I'm eyeing if I can get it for a song (cause let me tell you, this place is what nightmares are made of, but I'm a glutton for punishment).

It's why for every unit we rent, we gain an additional $52.38 per month on top of rent, compared to our competitors who get nothing, or subtracting from their rent in transaction cost.

The Resident agrees to pay an additional $30.00 processing charge for each returned check unhonored by the bank in which it is drawn.So should I let the late fee and returned check fee slide?  

Additionally they furnish the apartment and have community managers that set up social events. 

It is in fact a liability that will cost you far more than it will likely ever be worth over the life time of ownership (except in some select markets).Life style choices are not something others can advise you on.

I plan to refi in the spring with a reasonable expected appraisal value to come back around 82k without doing any additional upgrades.

If this happens 5 years after you install the tile, you may not be able to find the same style of tile or grout.

Rent control does not apply to SFRs, but it might apply if that SFR has a guest house and considered an additional dwelling unit.

Feel free to ask anything additional if you need.