In my county they have a comparable analysis tool that will give you comps.

I've learned a ton and would do many things differently next time (probably #1 would be not to invest out of state).Because of this, I'm willing to drop my price by nearly $22-$23 per sqft (or $25k off what comparable units are currently on the market for).

I have no idea of what the individual wants for the building, but I was wondering if the same rules apply when looking at a 1-4 unit building as compared to a 12 unit apt building.ie 50% and 2% rules.

When you look up the purchase prices from a year or two ago and compare it with the current market prices...man, it's scary.

The lots are selling for more than a million dollars and people who have already purchased them are having a hard time renting them when compared with past years.

Go have a look at the current listings, and see how they compare.

The rent is 100 more than what I expect, so I offer to give them a 100 discount if rent is paid before the 1st, with standard late fees applying on the traditional times thereafter.

Then check to see how it compares to other properties in the same area and determine whether on not it's a good deal.When starting out in real estate I recommend liquidity.

Actually, I think I compared them to a friend who tried to teach me to play cribbage.

If your example house rents for $3000 (as shown by comparable rentals in the area) then multiply by 50 to come up with the max you should pay to see positive cash flow.