Seems the oil producer is going to cut off the wrongful buyer anyway.

There're usually a few extra dollars floating around somewhere from someone to make the deal work if you need it; just remember it will cut into your profit, so be sure to account for it.

@Robert Steele I know this happens alot.

I agree @Ryan Steele , 5% is a huge drop.

Many folks have a problem adjusting to effectively living on a 7.5% pay cut.

I just figured some guys already have contractors that analyze the property for them and cut out the inspector costs.

The difficulty is it is hard for the inexperienced to cut through the sales pitch and evaluate the degree of actual knowledge and experience.

We are currently touching up the place to sell it and cut our losses.

You should also figure out financing, because (I'm in the process of doing this myself, by the way) a hard money lender will cost you more than conventional financing, cutting into your profits.With the information you've given so far, I think it's a good buy at 25k, but I would probably try to acquire it for 20k, since I'm not sure about your financing and expenses.

Cutting your living expenses this way goes a long way in your ability to save up for more units.