Values are still increasing and it should be worth more next year than now. 

However, even spending $10-20/unit adds up for each tenant as you increase your portfolio. 

Irrespective, don't go over what YOU determine you need to pay for a property, I've seen people increase their purchase price more and more just to be competitive and get the deal, but then they end up eating into their profits and barely make money when they go to sell.Anyways, I hope everyone in Chicago is staying warm today..! 

I am currently in the process of filing my 2015 tax return (extension) where I can remove those expenses to increase that year's self-employment income, but that income would be taxed at the 28% bracket so not sure if it's worth it. 

I've just started this year and am finding the MLS increasingly difficult to find anything that pencils out for a long term rental.

What condition is the property?

If they're 10 year tenants, you might have an opportunity to increase rents as well! 

We had our second home rented out before the closing.At this point and after reading numerous books on real estate, I realized that although we had reached our goal of owning a rental, our finances were completely vertical and I need to spread out to increase cash flow and reduce the impact of a vacant property.In January 2016, I started data basing different markets across the USA.

You're basically there to help them by buying at a fair price and get them rid of potential problem and hassle. when I meet people in that situation I tell them: I'm sorry for your lost, just wanted to let you know that if you are interested in selling xyz property, then I'd be willing to make an fair offer on it and help them avoid potential adversity by buying with no condition and quickly. 

Dear BP Community:We are buyers on a property where the appraiser unexpectedly appraised the property to be in Below Average Condition.