After the inspection, and requesting all things be fixed, the owner has come back and said that they will lower the price to 69K and that they will only fix what the lending appraiser says needs to be fixed.The unit currently has a renter paying $650 a month that wants to stay.

The property was in good shape and passed all inspections.

When I was a Realtor it would take me the best part of an hour to do comps right, but that was because I drilled down deep on each property and took the time to do the job right.In fact, you might want to pay that same Realtor to represent you so that you have someone to guide you through the offer, contingencies, inspections, disclosures and negotiations.Good luck!

Permitting and inspections are also much more difficult in DC.

My plan is to leave as little of my own money in the deal as possible and I highly doubt that going directly to a local bank or credit union will get me there since they would inspect the property and realize it needs some work.

I was at the inspection with the inspector yesterday.

I got it under contract at 340K and use inspection to negotiate 20K down.

Now comes my inspection.

Bryan Dearasaugh with Rock Solid Home Inspections made sure that we knew exactly what we were purchasing.

If this is the case, then do an inspection to verify it is vacant and in good condition prior to any money changing hands.Make sure the security deposits and prorated rents are transferred to you.