If it were me waving it I would possibly cap it to a point but do my due-diligence beforehand and work with my agent to review comps and get a solid feel on the value so if the appraisal is short- if you still feel confident its worth it to you to pay what you are offering, then I would consider waiving it. 

You can find some reviews and contact here. https://nextdoor.com/pages/id-...I've used them on several projects.

I will have a pro review my mortgage as I'm looking to put this property into an LLC, but I'm looking for a broad stroke answer first.

Hi Everyone, I am working on my first buy and hold rental property. I think I have found a pretty solid deal. Please view the attached report. Home price: $130KConventional loan with 25% down: $32,500Estimated repairs...

Additional help may be found by reviewing all types of organizations and structures before making your selectionDo you recommend that we stick with the LLC or select corporate/S corporation status?

Thanks Mike - I've heard mixed reviews about PenFed - how was your experience opening a HELOC on investment property with them?

Review their management agreement.

Since the property doesn't cash flow, what kind of metrics / analysis / tools do I use to guage appreciation potential?

I’ve gotten a mixed bag of reviews how solid the agreement is (Florida) but it lays down the framework and numerous scenarios in case of death, disagreement, distributions etc. and spares us from paying $2,000-$3,000 to have a lawyer draft it.

The biggest challenge is finding the right property management company to help you and stay on top of the things to get the best reviews for your property.