We anticipate a great summer there too.

If the contractor quote for rehab is higher than I anticipated, is that usually a good reason to counter?

If so, how have you altered it and how long do you anticipate it being altered?  

Again, not something we knew about or anticipated, just dealing with the factors at play in the current market and this particular set of circumstances.Finally - the build cost. 

First thing we ask when something like this comes up is" What is the range of hours you anticipate this taking?

One big issue I anticipate is that a road and utilities will need to be put in and that's no small fee.  

You might also find that there might be some acceptable "clutter" due to getting stuff packed into boxes anticipating a move.And if they have prior rental history (more than just one previous landlord), going back two landlords to ask about housekeeping and move-out condition also will get you some insight.

If they sell 20% below market, they can still pay off their loan and walk away with $150,000.I anticipate some sellers will panic as they see the market cool and they will be more likely to accept a low-ball offer. 

This is based on the anticipation that the property will warrant that higher value upon reappraisal/sale. 

What's the formula on what one should pay in renovations considering the purchase price and anticipated sell price?