@Nick Diecidue Your budget is way, way too low. 

I have purchased a couple of properties and am running low on cash.

On to plan "B".As a thought, if your stoop is the size and location you want, but just in bad shape, perhaps having a contractor skim coat it is a low cost solution.

My mentality has always been, rent low enough where you don’t lose too much but have the tenants long term. 2) how do I approach offering a price increase?

I too thought about whether he's hiding something but I spoke to the current property manager and he says it's always been a MF property so the chance of underground tanks or soil contamination is quite low, isn't it? 

I do use debt, but with relatively low leverage.

Usually, the only difference is that there credit score is too low and they dont have the full down payment.

I recommend sitting back (crunching numbers along the way of course) and letting others ride the wave of low returns as you build up reserves.

They say that RE companies that claim to provide leads really only have weak web leads that have a very low, almost zero conversion rate.Any help or info with respect to these questions would be appreciated:1). 

If this PM were worth his salt, he would have presented the offer along with his own market analysis to either justify the low price or give you reason to reject the offer.I wouldn't deal with someone so flippant.