Worst case, if you don't get a signed contract, you can likely walk away - as they haven't inked the deal within a prescribed acceptance time frame (I'm not an attorney - so consult one before taking that step - I assume you have some earnest money in there)!

Just by being here we have taken a step in the right direction.

Taking this step will put more money in your pocket faster.Just a thought and again, good luck to you!

I've purchased a 4plex at auction before & the prelim title report revealed several items I had to deal with in advance, so I know how important that step can be.

Lots of great, very insightful, experienced advice in the replies, so I won't even try to play the parrot here.My advice, first step, go to a local smaller bank that is local (5 branches or less) and get a 50%-70% mortgage on your home, and roll that right into an account at the same bank.

Upholstery as cap steps, removal of existing carpet, Will be discounted because the store will want to make money on these services too!

it seems that you are getting yourself locked with over analyzing. at some point you gonna have to step up.

Step 1 - Why is he liquidating?

Unless it's a corporate tenant with a long term proven track record that would mean nothing to me as an investor.The reason is businesses fail everyday.Even if the business has thrived for the last few years they might have been only going out of the home or a small space.Now they are going bigger in space and they may or may not grow as expected and the rent might take them down.They could be down sizing in space and carrying a ton of debt and fixing to go under.So as an investor the track record and seasoning and performance of the lease is critical when doing an income approach.You also have to analyze if rents are dropping in the area.Even if the tenant has been there awhile they might be jumping ship for a lower rate elsewhere and the lease is coming up soon.I think FSBO really isn't going to get you a higher price.The agent bringing a buyer will now have to do 2 jobs with the buyer and the seller for one fee.Also the buyer will see you are saving on the listing commission compared to other properties listed for sale and will reduce the offer to you.It's a classic mistake of the seller thinking they are saving the listing commission and the buyer reducing in the offer.

Similar visibility through other credible channels would cost many times as much.Of course some people will be disappointed, but in order for us to continue forward, this is a necessary step.