If you put in a low payment as you have indicated and then offer seller financing with a much higher interest rate and increased sale price your $399 payment may go to $600.

It has been listed with an agent for 3 years and is still on the market.My partner and I put in an offer of $20,000.

Get all your numbers figured out first then put in an offer.

Never, ever put in an offer with "specific performance".How often it happens is irrelevant.

Pay attention to the fact that I put in "Flaws" in plural which allows the accumulation of several flaws to mount up to either equal or accede the purchase price.

While Nat Gas is odorless, they put in a chemical that smells.Call the Utility or HVAC or Plumber.

Light bulbs are not included, they can screw in a light bulb, unless you have high ceilings requiring a ladder, those I put in.

So whatever time, energy, and effort you put in during the purchase process pays off many fold.2) Get the right renters.

After I put in the address, rent, and security deposit (and my CC details), it sent out an email to my tenant to accept the screening request and allow TransUnion to release the information to me. 

Example: If ARV is $100K, but I need to put in $15K to get the property to that number, I'd be offering $55K on that property ($100,000 X .7=$70,000-$15,000=$55,000).