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. 

Not trying to pull a fraud.

It takes a credit pull and a made up "123 main street" purchase loan to pose the question to LP, however.Further: Normally I disagree with the majority of my fellow lenders requiring a fresh credit pull every 3 months for a preapproval to remain valid.

I'd like to pull on a thread from your statement: "I'm currently seeking multifamily properties as I assume they offer more bang for the buck."

@Riad AliWith A cash out refinance you could pull out 75% of the equity on the property.

Where did you pull the comps from?