I asked about adjustments, and Frank got into some complicated stuff.

Clean condenser5. install roof vents6. adjust front door7. install range hood8. treat for termites9. repair termite damage on floor joists10. install cold water shutoff11. clean rust on circuit breakers.Upon further questioning: here is the response from the sellerThis was a full rehab with the exception of replacing the plumbing supply lines.

I do not touch multifamily under 3 million because sellers books are usually a mess and many adjustments and concessions have to happen to get the buyer and lender happy to close on the property.

Rick, I'm an insurance adjuster in Tampa. 

Adjust numbers, if additions can be made.If needed, revise offer or ask for credits based on inspection, etc.

I've been able to manipulate the data in some way to get it to positively cash flow (rental incomes higher & lower purchase price), but I guess the question is how do I know what is too aggressive when it comes to adjusting prices during the analysis phase of a rental property?

Also make sure you have the ability to adjust/amend it at your own discretion.

It has a price adjustment table in the back of the book to adjust for your area because New York would be different than Detroit for example.

What price point would you feel good in as far your monthly expenses and then adjust search based on that. 

I am curious how other REI investors are adjusting or?