I agree with @Michael Ehmann , we are seeing a lot go competition in the Walton HS district and ITP specifically.

I agree that it's obviously not your fault.

I agree with @Aaron Klatt.

But apparently the majority of this building is already sold out, with over 50% of the units being investors.I sent an email to the agent that had taken us through the presentation - and she agreed the numbers were likely accurate but I should be looking at this with a "long term view of the price appreciation and someone paying the majority of my rent".I'm wondering what the consensus is on 1 bedroom condos for renting, and the idea of negative cash flow? 

I agree with @Michael Dang.

They told us they would give us a call to let us know when they could do the work and we agreed.

@Tim Haenn I'll have to agree with others here, we need more data.

Do I try to contact the owner and agree on a price before going to the bank to get approved or do I go to the bank before contacting the owner?

People will agree to darn near anything when they need to move in.

Independent academic experts from Stanford, UC Berkeley and the USC all agree these policies will discourage new construction and reduce availability of affordable and middle-class housing – and drive up rents for many Californians.