I had a HUD inspector also come a walk the house.

We set up a meeting, I ate my sandwich, then walked over to talk money matters. 

As a new investor, it is really easy to get caught up in the excitement and talk yourself into a property being a good deal rather than walking away and waiting for a better one.  

With every deal it takes walking that line between losing it and making it happen.  

The best you can do for him is probably to print a few good comps both sold and for sale (1270 sft for 50k, 1548 sft for 41k etc) ) and go walk them and hope that he starts to understand.   

Did you do a final walk through of the property the night before closing?

I would walk away from this. 

Even this statement makes it seem as though you would be walking into one of those "made for T.V. movies" like "Death Wish".  

I have bought properties at about 2 cents on the dollar and have walked away from some deals with a deed and cash with nothing other than my drivers license and a pen. 

Hi Benjamin, I'm sorry I don't know much about how all the financing part works - I can say that on the last flip my guy did by himself, the realtor (and other realtor friends) helped point him in the right direction.What I do know, since my guy is a contractor, is that he goes on bid walks all the time before and after a house has been purchased.