Lots of all-cash money from China driving up prices and then the homes sit empty.

I feel like I can move on after sitting on the BP chair and talk about it.Story 1 - 22 unit complex in Houston TXSo I purchased a 48 unit complex about a year ago for 21k a unit.

I have been sitting on the sidelines for the past couple years, gathering data, exit strategies, markets, etc, and this website has been a big part of it all.

Delaying or deferring the processing of an application can be adverse to the applicant; suppose they miss out on another rental while you are sitting on that application.

But I think that if you can calmly and coolly and methodically prove that the value is only $X, while he may reject your offer initially, so long as you maintain a decent relationship he will come back to you after it sits on the market for 6 or 12 months.Unfortunately, that is a waiting game you may not be willing to play and you will be dealing with somebody who is far more emotional than logical about the whole situation.

Thanks all for the responses, I think I will try and find a broker to sit down and talk about it without running my credit (Perhaps printing out my Annualcreditreport.com reports and bringing them?) 

Sit down with a local RE attorney.  

I have cash ready to go and its just sitting.

It would make terrible financial sense to buy a house and let it sit, not making income for first year.

It is definitely true that you would have a smaller pool of renters looking to move in the winter, but people are always moving for various reasons and it doesn't mean you'll be forced to sit with it vacant.