We're close, and he wants out, but is basing his "get-out" price on his original cost basis instead of market value minus repairs minus my desired equity.

Should I still prioritize applications on a first to apply basis, or should I prioritize on first contact basis?

There is no shortcut to working at some point on an asset level basis.

This is the only way to find out what is necessary to operate the property on an annual basis.

Don't listen to the gurus and see for yourself by bidding consistently everyday and you too will notice patterns in the counter offers.The secret is bidding regularly so that the asset manager gets to know you and you will start to receive notifications when HUD wants to get rid of the property.

You May have been to a Guru seminar if..........You believe brokers will continually submit deals to you although you have no capitalYou believe lenders look at the property ONLY when considering whether to lend you money, so that your multiple bankruptcies, credit score of 490, and $80,000 in credit card debt won't matterYou think that commercial real estate sellers will accept post dated checks for $100 as sufficent earnest money.You believe no seller is sharp enough to see through the numerous “weasel” clauses you put into your purchase contractsYou are persuaded that the only difference between a $1000 transaction and a $1,000,000 transaction are the amount of 0'sYou believe everyone who critsizes your plan is jealeous and wants to see you failYou believe that 20 years of hands on experience, a four year college degree in real estate and yearly mandatory education seminars can be trumped by the “intense training” 3 day seminar you just paid $7000 for.You believe that the $7000 you just borrowed on your newly increased credit line to pay for that seminar is an “investment”You can't believe people actually wasted $80,000 and four years of their life learning “useless” information in collegeYou believe assembling your real estate “team” is your key to success and a necessary first stepYou believe you can actually contract with the best “players” in the industry although you have no experience, capital, or track recordYou believe that once you find the deal that fits the formula money will come to youYou believe that your Guru has provided you with exclusive information on how to find “bargain” dealsYou believe one in a life time “steals” are an everyday occuranceYou believe you can be successful working “the system” on just weekends and holidaysYou believe the Guru got rich by actually doing real estate deals rather than by using a slick promotional sales and training systemYou believe the personnel provided to assist you are actually real estate investors who actually have experience and knowledge and aren't just some failed salesman reading from a scriptYou believe you're the first person to think of using BiggerPockets as your source of wholesale leads or to build a buyer listYou believe wholesaling is investingYou think the term is “whole selling” not wholesaling.

After all, I could not ask him to drive 4 hours to look at a house for me on a regular basis.

They lend on a case by case basis, so they will not give you a set in stone answer before hand..

That's the mere definition of "worth" or "value", and the basis of supply and demand.

I walk the property every day and stop and talk to the tenants and see if they need anything, and yes I had to evict some tenants, and I was very swift on filing, and once I file there is no talking start packing.Joe Gore