Generally, when my analysis includes seller is "dead set on his price" and "I'm having a hard time getting the numbers to work,"  I'm moving on.The only way to make deals like this work is if you play with terms. 

May be a negative question but I’m curious how this plays out.

Both of them are offered as value-add plays based on a light reno which is supposed to result in rent increases of $115 to $150 per unit.I have my own thoughts on where I want to be in terms of property quality but I wanted to see if any investors local to the area or knowledgeable about the area could offer any opinion on what class these two neighborhoods/areas are and which of them would be more resilient in an economic downturn.

Most of the time though, the big banks will not play ball since the person you are talking to are following scripts, but credit unions or local mortgage lenders don't mind going to a bidding war.

The smart ones do not rely entirely on playing the sport and will wisely get a degree.

Per your kind response, so how does the lender's appraisal of the house come into play?

In my opinion, that will be significant, having two major names (soft-branded) ocean front hotels.  

- We put it on all our quotes even on brand new homes (partly because it's not very expensive, but also because time goes by and rarely do people add on things after they purchase home ins). 

If that looks somewhat interesting you can dig deeper.Note: it could be that the rents are bellow market, so the Income maybe way lower then what it should/ could be. that's a value add play right there. 

If the outside is a huge mess, you had better check the inside real soon....you may only be seeing the overflow....tip of the icebergIf they are playing the "no habla English" BS, I would find a someone that speaks fluent Spanish and take them with youWhenever you inherit a tenant, you have no choice but to ride out the current lease but as soon as that expires, have them sign YOUR lease or move out....no exceptions.