If you buy less than that, you’ll be taxed on it. 

Eventually you could owe more than the property is worth.

If this can be bought for $200K or less, it's a winner. 

On the other hand, the tenant may be more likely to move to a different apartment since there are more options on the market and they could find a better fit.I think you can make an argument that it's actually better to have leases expire in "slower" or less desirable moving seasons like the fall and winter.

It's so contentious that even if I offered her 10k more than net, she'd tell the court to sell them, just because she knows it would hurt me.Anyone ever been through this it have advice?

.📊 The Role Of Cap Rate In Investment Properties:- Cap rate is more than just a number; it's a guiding metric shaping your investment strategies.- A higher cap rate often indicates a potentially higher return but comes with increased risk.- A lower cap rate might suggest a safer investment but with lower returns.🧮 What Is The Cap Rate Formula?

@Nathan Gesner: Gives a much better solution than mine."

You can build apartments in Homestead florida located in miami dade county right now on infill lots going for less than 100k. we are just beginning to look at the entitlements required and have one investor considering them. we would put 2-3 housing units per lot. don't go to fort Myers or any of the other locations that don't have market drivers like miami.

The other option, however, is that I can live more or less for free for the rest of the year between a few family members and friends and save that bit of extra cash towards the purchase.The extra cash could either help me jump on a deal sooner or it could be a buffer/money for potential renovation when I move in.

That is better than nothing…