I follow the same rules regardless of the investment opportunity.

I know that I will never have the 'Perfect' opportunity; so i'm not sure if its time to buy.

Within the next 5 or so years I would have the opportunity to relocate to a new city for my job, so I am thinking this would be a good way to begin gaining equity in real estate, live with friends while I'm still relatively young, and have their rent payment help pay off my mortgage.Sorry for the long post, hope that it is at least comprehensible.

If you find a good enough deal, the money will come.Are there any investment opportunities in your market?

It get even less efficient when you consider cash on equity, which is really an opportunity cost calculation. 

Any tips to not let an opportunity pass by and negotiate closer to $150k or am I dreaming?

This has driven me to look into neighboring states such as Arizona and Nevada for investment opportunities.

Neighboring states such as Arizona and Nevada offer much better investment opportunities for me.

@Scot Poore I would sell, then be ready to jump on the next opportunity.

However, if I talk to them and they don't fix it or they actively avoid me, the next month I mail and post on their door the same letter with the appropriate eviction or termination notice with the opportunity to cure the problem.