(What I'd probably do is calculate carrying costs over that time period and lower my offer by that amount).I'm a newbie too getting ready to purchase my 2nd revenue producing property in my first year. 

There are specific markets where real estate investing will produce good results and there are areas where investing in real estate will produce far worse results than simply keeping your money in a bank. 

Once I buy enough properties to liquidate the cash I will need alternative ways to produce money to buy more properties.  

Today if there is an audit, I can produce all docs in seconds.

@Joshua Meyers  your in a perfect situation to get your RE license  learn the ropes working with a top producer and get paid to do it.I got mine when I was 18 and still lived at home. 

I would like to learn more about income producing properties, not really into flipping.  

I have found that when I am just staring out on something, it is healthy to challenge my assumptions and "discount" mysleef a bit to err on the safe side. 

I personally would not sell a property that was bringing in $165.00/month cash flow unless it was a great cash offer.The only time I have used rent to own is on a low-income producing property that I wanted to get rid of.

When borrowing hard money, points and interest are high, meaning there has to be a very healthy profit margin in a deal for it to make sense. 

Also, by doing this, you can line all of your contractors up and be ready to hit the ground running when you do close.Keep healthy budget reserves.