Now if you are talking about wanting to exercise your option to buy at the agreed upon price and the appraisal comes in lower it would be on you to make up the difference or walk away.

So far we have never had to lower rents a single time but in fairness I started buying in 2011 so the market hasn't been going down during that time frame.  

If I negotiate seller financing, I am afraid to get into an agreement with any kind of balloon payment (just because it makes me nervous to have it hanging over my head) but I would like to negotiate a lower percentage downpayment than 20% so that I could afford to purchase all four (rather than two) under a warranty deed contract.

I once took over an apartment building that was managed by a somewhat large property management company and they had a "national rate" (even though they aren't national) that was far lower than what I pay. 

I will soon own a former chiropractic clinic that as the potential to have 7 or 8 bedrooms plus a 2 bedroom apartment on the lower level.

I'm not sure where you are located or what other flips in the area look like, but cutting costs/corners in kitchens and bathrooms usually means lower profits.

Down the road the asset class may change as I build up some equity/capital, but I'll likely get my start in the lower priced B-/C type properties.

I am in Harris County Texas, more specifically the city of Katy,TX where public works, school districts and such are part of the tax bill PLUS additional fraction of a percent directly to the city.The appraisal district has a particular portfolio of properties all assessed at significantly lower than what like property potentially would be valued at.

@Sergio Moreno Have you talk with your lender if you refinance would you get lower MI and lower interest rate? 

When I was very young, he use to buy homes and resell them to his 13 children at a lower cost.