And if your chat with the seller nets you a price reduction to $450k, you will have turned a 5 cap deal into a 12-14cap deal (depending on your capex and stabilized expenses) That would be a deal worth wrestling, especially if it is in your backyard.

You would have experienced compounding appreciation and two years of debt reduction and taken advantage of tax depreciation, not to mention you would likely be raising rents with each new lease.The charts below represent the drop in interest rates and the consistent rise in rental rates since 1987.

I'm leaning towards the "reduction in income" selection as it's true and it doesn't require hardship documentation....As you can see- I need all the help I can get here...

However, because most people who are renters are trained to pay on the 1st it could be more difficult to make them swallow that pill.

I have not seen any reduction in leads.

Also, they'll usually want some sort of reduction in rent, but given their quality is hugely suspect, what exactly is it that you're paying for.

I would assume so.Any info on how you managed to get that large a reduction in price?

I still deal with motivated sellers, but instead of looking for low prices, I look for low down and low monthly payments.A typical deal for me would be a lease option that looks like:Price: $500kRent: $1.8kRent Credit: $1kDown: $0Term: 3 yearsGenerally the seller gets the same price they would have netted with an agent, plus mortgage reduction, plus cash flow, and I pay for minor maintenance, management and closing costs.If it's listed with an agent, I'll pay the commission for them too.

@Wayne Brooks phewww, I thought I was taking crazy pills.

In most jurisdictions property taxes are lower on personal property than real property so there's a reduction in property taxes as long as you set that up properly.