Your steady work is probably worth 5-10% off at the most, 10% is likely a stretch.

@John CasmonA few years back that stretch of King was some of the roughest few blocks in the city but that has changed because almost every building has turned over 60th-63rd in last 36 months or has been rehabbed and is being marketed now.  

The small bump in the interest rate on a 30yr is your "insurance" for being able to reduce payments in a financial crisis.But most investors will stretch out their payments as long as possible to maximize leverage and cashflow.

Thus far, our tenants are people separating from a long term relationship, leaving their parents' home for the first time, somebody here on temporary work assignment (which looks to maybe becoming permanent), somebody who just moved out here to take a new job and isn't sure of where they want to live permanently and somebody who is recently disabled, but is waiting for social assistance to come through and is living off of a 401k and needs to stay some place as inexpensive as possible to make her money stretch.  

I just figured its already a stretch getting them 80k below asking price...

as far as ownership issues. perhaps its a stretch to say that i own a property just by having it under contract. but yes i agree with you i have equitable interest in the property. definatly not looking for an argument. discussion yes

I'm rooting for the technology to make these a viable primary option in ME but stretches of -20F are not uncommon.

The ones in my area stretch the truth constantly, withhold offers, break deadlines.

That might be a stretch as it may barely cover the down payment.

If i can stretch it to two properties in the form of down payments and rehabs, that would be cool too.