The seller doesn’t have anymore money to put into it.

The cost of living is an interesting one - as in my view it supports a decision to move somewhere, or perhaps a business decision to open a satellite office, etc - however it does not typically 'drive' that decision.One of the key and most important advantages that Iowa has from a labor perspective, and I believe why the DSM market is a great fit for insurance/finance - is that the typical resident knows central Iowa and is 'content' - this doesn't mean that they are settling, as I do believe the DSM market is a 'special' place once you get to know it - however I'd put a strong bet as compared to other metros that if you polled people, the question 'Do you see yourself moving in the next few decades or do you ever yearn to move?'

At least one interested party is staying on the ownership so this doesn't trigger any monies changing hands. 

The company that handles the property management doesn't necessarily have to be the company that owns that asset.

He "wants to sell", but doesn't actually make the next move (and I have not been able to budge). $500 in rents (1 bed 1 bath) for 16 units, needs quite a bit of cosmetics.

I’d issue a second pay or quit notice on Monday just to clarify.I’m very concerned when someone is late and doesn’t communicate.

I can see someone who doesn’t qualify coming back disputing they didnt fully understand what the qualifications were.

First make sure your lender is fine with it, and it doesn’t hurt your dti ratio.

If your contractor has equity in the deal, and doesn't perform, that can make it nearly impossible to fire him. 

Making an offer at $135k doesn’t make sense to me whatsoever.