NOw if your a lawyer ,,, lender or RE broker you have some experience if you have none of that then you will go through a learning curve.... or you will be so cautious that it will be hard for you to pull the trigger... the risk are to many to mention.

Mind you, we still needed a substantial amount to pull this off (its Jersey after all), but it sure was a far cry from $70k. 

You will waste SO much time figuring out who peed in the pool or didn't pick up dog poop or didn't pull their clothes out of the dryer or who stole their such and such with a high maintenance placement @Huthaifa Afanah!

But I feel like it will pull in people who want to be near the Tosa strip on 70th & North so I'm hoping to push to B tenants in the next couple of years and really raise the rents and value.

Found out the hard way though usually best to always pull or get the proper Permits pulled.

To help soften the blow I would also recommend trying to pull some comps of your own and showing him that that price is far too high 

If three comparable properties were listed at $110,000, $115,000, and 112,000 and the SQ Footage was 1100, 1125 & 1110 BUT unlike your real estate salesman you knew that was the Wrong way to look for value and you asked your new SMARTER Realtor to pull up sales for similar properties and found out they sold for $100,000, $105,000 and $102,000 then instead of dollar per square foot based on ASKING price (with a range of $100 to $102 psf) you'd use the actual sales dollar per sf and see that $91-93 was the range so a market offer for a comparable 1120 sf property would be around $103,000 instead of $113,100. 

I don't want to pull my credit to many times (more than 1 ).

Like I mentioned before, we have a great Realtor and we also have access to PropStream that allows us to pull our own comps.  

Here's the test for a clog...fill the sink up with water and pull the drain.