They often offer to rent for longer because it entices you to accept them over other applicants.

I obviously don't want to let it sit vacant in December, but so far this is the only solid and responsive applicant I've had.

Aloha,Our Rental Application has a series of notices on it that include: 1) Unit is rented in the condition it was shown.

It’s a d neighborhood and tenants are lower income” , I more less knew that still had the feeling that I want to take the risk, so I started searching and getting recommendations for property management in the area , came across someone that seemed fit for the job , that told me from 750 apartments 20 are vacant and were going through applicants asked them to check out the property I was interested in,  they came back and said they could manage it for me. 

if so -  ask if you can  ask for a  reconsideration of  value  ...in order for this to have any  chance to  work you  will need to review the appraisal and  provide a list of  any errors  and also  bettter more applicable  comps  that the appraiser  shouldve used  ...if you cant provide any details to increase value  - it wont  change   2) does your  purchase contract  have any wording  on  being able to  adjust the  price  should value  drop   3)  if you want the  property - can you adjust the loan amt to 119K  ( 85% of appraised  value ) and   bring in the 141K difference ?

Ripping out the wood paneling/disposing it is costly and drywall/mudding and taping for an entire complex is going to hit your rehab budget hard2.

Illnois has more red tape vs Indiana in my opinion!! 

Think how fast your PM could fix your DOM if you said you didn’t like the high #  they cut your rent 10% and boom they have approved applicants 2 days after listing.

@Gabriel Sanabria most of the pro’s are tied up in the differed Capital gains and the potential to eliminate a portion of Capital gains depending on how long you hold.The cons are red tape and location.

The old gravity furnaces on the other hand, I don't hate (except fo the asbestos tape around the duct work and it's not usually a problem if you leave it alone)-- They are very inefficient (60%) but there is nothing at all to break, they work even in a power outage, and they put out serious heat.