I appreciate the input on a couple past post I made in reference to this deal.

Most of the posts here are the people who invested with them, but I'm the other side, just sold another house and made an offer on my next deal, CASH... 

So when you see some guy who did 1,000 transactions in a year...understand he probably has a team of 50 agents who made up that number.

Once you have made definite plans, and have the faith you can carry them out and the belief that you will, you are ready.  

Sounds like you have made some progress.

Thanks @Brent Coombs - I made adjustments as the deal was countered, and its looking more like a negative cash flow now.  

If they paid with 3.5% down on an FHA mortgage, and got the loan at the then-market rate of 6%, and made no extra payments, they would still have a remaining balance of $92k.  

I know books offer a great deal of advice, which is why I made the purchase of "The Book on Rental Property Investing" so far it has enlightened me a lot on the pros and cons of the business.

All of my customers knew about the house too and they were all bidding in the same range I was.If $61,000 is the most you'd be willing to pay for the house, offer $61k.  

One more note, our real estate agent even mentioned how my wife made a very good impression on the sellers agent with her call in the morning regarding the property.