The wealthier areas will be lower risk, and thus lower cap rates. 

Lower down payment, lower interest rate, better terms across the board. 

They have a rehab lien on the property that requires repairs to be done in a certain timeframe to get the property up to code requirements by the city of Detroit. 

It is rare I will ever go lower on an occupied house.

So while it might need x/y/z you'll need to offer a lower price to cover the cost rather than trying to get the same price on the condition they fix the roof or plumbing.

The benefit you get from manufactured homes, at least in our experience, is a lower price compared to stick built with almost identical rents as stick built.

I am a licensed Realtor, so I am planning on NOT taking a commission and have them lower the purchase price but what other strategies have you guys used in order to buy in this hot Colorado market with a FHA loan and only putting down 3.5%?

Convienant access to major job centers and a much lower price point than suburbs directly to the south make it very attractive to renters and great for cash flow. 

Or negotiate a lower price based on the feedback from the inspector.

amount owed on loan-$185k-(FHA)I have done some light rehab to update andI am considering putting 20k in and refinancing to conventional 30 year to lower the payments.