If you do you may be able to get better terms (lower interest rate and down payment).

I thought I had a time frame where I could use the money from the sale to purchase another house without having to be taxed .

Hokay, at first glance the monthly cash flow is lower than I'd like.

@Jason DiClementeYes thanks for response that was what I was trying to figure out what should I negotiate lower over all price and if so how much?

If income/expense numbers given to you were inaccurate, then I would lower my price to adjust accordingly to the cap rate you agreed upon the incorrect numbers.No deal is better than a bad deal, and losing a few thousand dollars is worth it not to get into a bad deal.The broker can put any description he wants, but he should not be passing over incorrect income & expense numbers.Go back and lower your price accordingly or else walk away.  

It will be lower if the tenant stays for 2 years or more, etc.  

The next 10 face to face appointments will lower offers to make more sense. 

I knew time was very sensitive but thought that It was possible. with that said, what Is the timeframe on preforeclosed homes?

Delayed refi loan amount is based on the lower of cash-out refi LTV OR purchase price.

What is the lease for the tenants, you won't be able to kick them out if they still have a lot left on the lease, some loan types have requirements on you occupying the property within a certain time frame to get an owner occupied loan..may need to write it in the contract that they get one of the tenants cash for keys to break their lease early, etc at closing.