for the area, 170k is awfully low for 5k of work.

Often a high cash flowing portfolio doesn't appreciate well (cheap properties in low appreciation areas).

But I'm also wondering if it makes it easier for the seller to say no to our offer, especially since we are making low offers.

High quality tenants vs low quality tenants and how much you value your time or how much you dislike dealing with the tenants are big factors in when you decide to hire a property manager.

If they have not done many the odds of success are low as they will likely make critical mistakes during the process.

Does anyone local have a rough price per sqft to assume for average construction with low end finishes?

With interest rates at record lows, they may want to hold on to a higher rate note, but you won't know until you ask.

There are a lot of people jammed into this house and that basically keeps my rent very low.

Comparable properties range between $260K - $280K.Why I want to buy:Save on rent as the mortgage will be cheaperFix the house and flip it while living in, holding it for 1-2 years for appreciationI would like to offer a low price on the property (reduce 25K+ off retail) since I plan to buy it as is, and upgrade everything in it since everything is from original 1990's construction. 

Depending on levels of finish I would throw $125 (min) per sf for new construction not counting demo.