Make sure your offer is clear that you can void the contract if you find something wrong, like low rent rates, condition of the property, or you just don't like the neighborhood.I know some investors will make an offer sight unseen with a huge earnest money deposit (e.g. $50,000) but make their offer contingent on an in-person walk-through within 72 hours or a review of the financials within seven days.

I actually almost lost the deal because I was negotiating for an even bigger drop and he gave it to someone else who was willing to pay 34k so I came back and matched that offer and got it.

I had given them a payment plan to pay security deposit in three parts on move in, they paid the part that was required before move in but not the remaining two2.

Typically when running comps I stick to the exact match, for example comparing a 2/2 with 1000 I would compare it with a 2/2 that sold within the last 90 days, +/- 200 sqft, and within reason of the same condition.

We may just try offering to give him his full deposit back if he can be out in 30.

Make sure you get the security deposits credited in escrow as well!

Its easy to find someone willing to pay 1 month and a security deposit, but when I hear investors say their previous pm told them "the second month is always late..."

Deposit the entire rent payment into the HELOC each month.

Deposits are crucial to making sure you have a serious buyer.

Is that 17k a deposit?