I also look at a worst case scenario IRR of 10% (flat prices, high maintenance, slightly lower rent) .Secondly I think 10% for maintenance costs is reasonable excluding planned upgrades (roof, heater etc.).

Feel free to message me for his contact info.He's helped me out on some investment transactions there and has done a terrific job.

Either their standards are much lower than mine or we are driving in 2 completely different types of areas.Usually, when I am out looking, I'll find two addresses in an hour that fit the bill of a distressed home and, if I'm lucky, one of them will pass the eyeball test when I am putting them through the appraiser's website.What am I doing wrong?      

But I do lower income rentals, so YMMV.

This makes some sense, of course, because you don't want to assume a lower or higher cost of repair than what will be necessary.

I am looking for a realtor too but it is hard to find someone who is willing to deal in a lower end price point.

Hi, @Nick Whitaker, why not just ask your agent to accept a lower percentage commission of whatever number you feel is fair?

Either way, you could have a lower offer than the other guy, but if you have no contingencies and he does, and you put up more earnest money, then you could get the deal.

If you could strategize your plan of action moving forward and wanted to return the highest ROI possible then one could encapsulate different markets and buy at lows, sell at highs then take profits to put into a lower priced rental that returns passive income with not much appreciation. 

Yes the monthly payments does not lower the principal but I was going after seller financing, which is more important.