There were a lot of operational improvements that we were able to make right away.

We can fit it in the budget, the numbers still work well, but I'm don't know how impactful it'd be to potential renters and dont want to over improve or waste $12k! 

There were a lot of operational improvements that we were able to make right away.

That said, if your return expectations are out of sync with the current market you wouldn't expect many deals to be accepted.If you don't think your offer price isn't going to work, look for other ways to improve the deal (alternate financing, new income streams, etc) to see if you can bridge the gap between his asking price and your needed returns. 

Bank some money and do what you have to do to improve your credit if needed to qualify for conventional loans.

If you have need to improve the interior, you might prefer the BPO. 

It certainly did for me.I started out buying turn key rentals because they were easy to buy and workedOnce I got more confident, I started rehabbing ugly houses, making a much larger profitThen I started investing passively in multifamily deals, which allowed me to invest big chunks quicklyThen I syndicated a small apartment, gaining experience and building my capitalNow we are syndicating large apartments with large staff and property management.From a percentage basis, the houses I was rehabbing was probably the most profitable, but you can only invest in small chunks and it takes time.

The work may not even “qualify” for a lien...here the work has to be an “improvement” to the property.

The Wholesale Inc podcast gives you practical things to do to improve your business and keep you motivated when you go a long period without a deal.

I've seen a similar improvement in my direct mail responses.