If you are firm and strong up front, it sets the standard which will not be compromised (late fees, repairs, etc)Best of luck!

I am a 28 year old newbie looking to shore up the holes in my knowledge and firm up my plan before I really invest, which I hope to be in a few months.

The unit was more than likely part of a bulk package purchased by a large investment firm by quit-claim or special warranty deed and then sold by quit-claim.I;m not sure what your reasoning for buying into a condo that is chained up i.e. flipping, holding etc, but considering what I know about HOA along with those you mentioned, I would spend my money on Disney World instead.

Is she firm with marking it up $8k?

(checks are already bouncing).The brokerage says earnest money and escrow deposits are safe but who knows.If you are a buyer or seller with a broker/agent from their firm I would seriously consider not holding any money with them.http://www.wsbtv.com/news/27524829/detail.html

I showed my plan to a gentleman that has been in the business for years and he said my plan is great but I should go work for a corporate investment firm and learn more before going out on my own.

They agreed the firm needed to cut its bullish bets on mortgage bonds.The Senate report alleges that Goldman then undertook a multibillion dollar series of trades to hedge its bullish bets by selling mortgage-related trades to allegedly unsuspecting investors.

$1400 sounds high, about what a high priced law firm would charge.

I am sure it will be a crap appraisal or a really old one.200k is way overpriced.Rents of 600 may not be accurate if it stays vacant.The problem with 1 to 4 units is they don't typically use the income approach when doing appraisals.All you can do is wish them well as say you are firm on your price.There are investors everyday paying over a price you would pay.They might be testing you to see how far you will come up.Give highest and best and move on to other properties and they might come back around.No matter WHO the seller is they have to go through a selling cycle to arrive at a point where they are willing to play ball.If they find a buyer willing to pay higher than you it wasn't meant to be.

For instance, in my area, a firm like Hutchens, Senter, and Britton handles hundreds of cases in Wake county alone.