What was funny too was a couple other people making comments about selling/buying property unseen, that quick, we all had fun going through the motions, my seller was sober, I had one beer but the others were under a bit, actually another guy seemed too interested.I call this a garbage agreement, they may hold up, but the intent of doing such is more to the fact of saying we have an agreement on the spot for a psycological impact to take us to a good and binding contract.

I gave them several hours notice since it was an "Emergency" So I have another witness as of today to their behavior.I always make friends with the permanent neighbors next to my homes and they watch my back for me.

In my opinion there never is a bad time to buy as long as any property makes sense.It makes sense if it meets your overall goals.It makes sense if the property is a deal as defined by your goals.It makes sense if you have adequate funding either from liquid assets and/or financing.My business plan considers location, value add opportunities, cash flow, neighborhood demographics and bottom line how it will impact my future retirement goals.What doesn't make sense is overreaching and putting all your assets at risk.

Property managers hate the lower end rentals, so even if you use them as a buffer you will be impacted by the revolving door and drama prevalent in the lower income neighborhoods.

The difference between the 9 cap and the 6 cap is the profit spread for the developer on the deal minus resale costs.The developer can simply keep the deal and have a 9 cap or sell if market conditions are optimal.Most do construction loans putting 20% down off of costs to build and then convert to permanent financing or sell off right away. 

I don't think "marginal capitalization rate" is in the standard BP vocabulary, but I believe it should be.[ monthly rent hike * 11 / cost of upgrade ]If you do this work in between tenants, it will not impact vacancy and should have no (or a positive) impact on maintenance expenses and carrying costs, so you can just do the super simple calculation above.

Yes, the Coachella Music Festivals is impacting the desert region.  

I guess I am thinking that on Biggerpockets, most members aren't really competing with each other, so offerings tips, suggestions, etc, doesn't really impact their business.

We are meeting with the contractor tomorrow and how we position this rental could impact our rehab decisions.

@Thomas S. and @Bettina F. what kind of impact do you think this should make on the offer?