Answer:   I would have to review the entire Contract, including the provisions regarding loan contingencies etc. to determine your actual obligations but if you have legal counsel, then you should follow your attorney's advice. 

Now if they say no, you have the ability to question their reason, "where did you find that"?

Competence, strategy, ability to execute, client experience, and ability to connect with other professionals play a role.It's not a commodity.

Thanks,RDIf the market norms are to charge 1 month's rent as the leasing fee, do you really think going with a Property Manager who's only ability to compete is by not charging market prices is the smart play?

Investing locally would be good so you have the ability to manage the property yourself when your property managers are dropping the ball.

You should look at comparable sales of 2 unit properties in the area and use those to determine the ARV.

To be clear, there is no tension involved with this at all - we're just all trying to determine the best outcome for us the investors, and the kids as heirs.

I’m just looking for as much information to determine if I need to delay steps in my path to avoid crushing losses or change the path yet again (less willing since I I have done a lot of tweaking to this path).

Usually because of a motivated seller that just wants out or because the house is in such rough shape that there is a good spread.Their ability to buy low for whatever reason makes them money.  

I have confidence in my abilities and, in that sense, I am cautiously optimistic for the near-term future.