That said, it is amazing, great for areas that get wet - holds up to standing water, and looks great.

Any deal I am interested in must stand on its own merits today.  

It won't stand in court, but it should get his attention.

But at least when you leave you should know exactly where you stand.

My agent has standing instructions to not bother presenting any offers to me that isn't at least asking price.  

I own a SFH in Broken Arrow, OK and when I purchased it the inspector noted some standing water under the house but no damage had been caused by it so it seemed not to be a longstanding issue.  

That will come back to you ten fold.  

The taxes are cheaper because the value of that stand aline property has been degraded.

I use a format that helps keep my research organized: PETIO.PROPERTYEQUITYTITLEINTERESTSOPPORTUNITYSince you've done your research and (presumably) determined that there's sufficient equity net of repair costs and liens.Your current challenge is that you do not have standing to pass marketable title.

I agree with Steve the number do look good, I'd get real financials and see if they stand up to your due diligence.