Then why would you consider paying $1.3 million for this property - $70,000 over value?

Folks are fighting to pay $700k for a duplex here with market rents of $3,500.

I have seen more and more people put houses that should only be a long term rentals into service as a STR, as well as paying prices that will not cashflow. 

Further, he's using an @gmail.com email address—don't get me wrong, I run my RE business through my primary @gmail accounts set up for the LLCs, but as a legitimate tax-paying lending company? 

I declined to pay for the repairs.

What are everyone’s thoughts on purchasing properties with tenants in place currently paying below market rents?

He has someone living in the property (my grandpa's wife's daughters niece) (kind of tricky there) that only pays him at least $800 a month.

3) Price is too high for prospect perception of property value--- Prospects are only willing to pay so much for what a property is.

I have the funds to out down 20% (about 100,000) but wouldn't it make more sense to let my tenant and equity pay for that?

Would I be making a mistake paying the $997 for the Bnb formula?