Staying exactly as you are and doing the same thing may be the best strategy for many. 

Some of the adjustable products, the payment stays the same, but the principal to interest allocation changes to the point where people are only paying interest and are now in a negative amortization where the amount they owe is actually going up.

In a scarce market you still want to stay competitive in your bidding because that 2nd price reduction may have been the redux that all the other potential bidders were looking for! 

If I knew 10 years ago what I know now about house hacking, I'd be doing it, but we are in a condo building we converted with friends - and our condo is paid off - so we're staying put for the foreseeable future.Thanks for the thoughts on lower cost areas and rehabbing.

An investor friendly agent can do all sorts of helpful things, like setting you up with a search for properties or connecting you with folks who have recently done deals like the ones you want to do. 6) Consider analyzing a deal or two in your local market, just for practice, with a free use of our Rental Property Calculator (or other calculators).

.- Tenants want to stay till the 30th, landlord/seller trying to convince them to move out the 20th.

I'm with a construction and design company and we operate in NC - feel free to reach out, would love to work with you and help you create a high-performing STR.Here are a few we did in NC for you to check out:-https://www.airbnb.com/rooms/755582185230853225?

Feel free to shoot me a message if you want to chat.

Sellers Info-Main interest: minimizing capital gains/taxes, preserving estate for his kids-SFH free and clear, no mortgage, purchased 30 years ago for ~$150k-Currently acting as landlord, very likely doesn’t want to continue in this capacity My info:-I want to cash flow the property now -I want to purchase the home now or in the future Property info-No tenant, rent comps $2600-2800-Current comps of $290k-320kI don’t know the sellers full financial picture.

I am close to the owner so I can discuss options.These are details and some rough numbers: - Location: Vienna , VA - No mortgage on house (free and clear)- Purchased year: Around 1980- Purchased price: around $50,000- Type: 3 bed - 2 1/2 bath single family- Market price: $920K (not appraised yet but numbers from Zillow)- Market rent : $3,400/mo (from BP Rent estimator)- Insurance $2,000 /yr- Taxes $9,300 /yr- Management $3,260/yr (I do not want to manage )- Repairs: TBDThe numbers do not work with conventional financing (20% down, 7% interest, 30 yr) so I want to think of creative financing ways.