When looking at towns in West Palm, North Palm, Palm Beach Gardens, Jupiter and Tequesta, it seems that any house in decent condition is getting 4-5 offers.

Take any repair estimates with you to the protest such as Roof Repair, Mold damage, Foundation repairs etc , and request a Property value reduction due to the condition of the property.   

They are in reasonable condition, cash flow well and have had a stable tenant base for a decade.

The only issue at that point would be condition including the roof, HVAC, plumbing, out dated electrical box, etc.

@Kallie Cornett, what is the age and condition of the major items in the house?  

It's great that you've got your analysis on lock, I always recommend seeing properties of various conditions and neighborhoods so you can help establish where your sweet spot or greatest value lies. 

I accepted their counter offer with the condition that they bring $5,000 to closing.

The property was in rough condition, and needed a decent amount of work and the sellers basically took the first offer I through their way.

Smaller lots, land, tough condition houses, junked single wides... etc...almost never. 

Spend more time with neighbors to better understand local conditions and differences between similar looking properties.