I was also told that soon after we went under contract the seller received a back up offer that is 30k higher than mine which puts me at a position where I won't be able to negotiate much.The following Monday when inspection and appraisal was scheduled, I got a call from my agent informing me that the property had been vandalized over the weekend, resulting in a broken window, vanity from the main bathroom torn off which caused flooding from the first floor to crawl space and into the basement.

Both the bank and agent think that as well, and I did my own analysis and feel the same way.We're contesting the appraisal, but would like to have a back up appraiser just in case.

@Lorenzo Galloway, do you have an appraisal to back up that number?

@James MurrayIt is fairly common for older properties in Richmond to have oil left as a back up.

Tampa also offers the option of a great long-term rental market which gives you a backup plan. 

Hello guys,Reaching out for second opinions/advice on my strategy for RE growth.My family and I are living in a duplex house hack that we bought in April 2021.We racked up a bit of debt that we are paying down as quickly as possible to get my credit score back up so that we can get good terms on a refinance and/or HELOC to purchase the next property with.Any thoughts/constructive input on how I could better approach this would be appreciated.Plan;1): pay down all revolving/CC debt currently owed using the avalanche approach.

Now, what you really want to protect and I assume is what they may be ultimately referring to is the backup of water or sewer into the rental. 

They live paycheck to paycheck, so if they have a financial hiccup like needing new car tires, etc, they won't likely be able to pay rent.With SEC 8 you will likely have only one low income wage earner, who will have the backup of the voucher to fill in the gaps when they inevitably lose their job because of low income life issues. 

Things slowed a bit at the first of the year, but the last week or 2 it feels like things are picking back up. 

I just bought an off market S MPLS home for $205K with comps $350-$450K all within 2 blocks and I have a 30% bigger lot and back up to a park.