Then end the conversation with something like, "oh and by the way what do you charge for rent in _____ area?" 

I personally charge hourly for my services since it has been my experience that clients frequently underestimate their needs. 

Found a property for 32k in an area where there is high demand to rent could charge 1800 a month for a 3 bedroom.

Rentals in the area are charging about 1000-1400 per bed room (I like to relate price to bed since student rentals here kind of revolve around that Idea and seems to be a significant factor.....how much does Mom and Dad need to pay to keep Johnny UCSD student Housed. 

Some may work especially if you can buy at $40K with financing and charge a rent of $800 but vacancies will be a issue.

The actual maintenance expenses will also be split 50/50, but I will not charge any fees for labor if I handle things myself. 

As JR said, I would do it for free this time and then charge a fee the next time it happens!

For many, it’s not necessarily a dollar barrier, but rather an emotional connection.

I won't go any lower and I am definitely going to keep emotions out of this.I hope to hear your feedback!

I'm looking into Bank of America as they don't charge annual fees, origination fees,and you you can lock a portion of the balance into a fixed rate if you want.