Value = NOI/Cap RateNo clue on the accuracy of your cap rates, but assuming they are correct:Building 1 = $319KBuilding 2 = $322KBuilding For Sale 1 = $500KBuilding For Sale 2 = $656KSo seems you are pretty close with your values except for Building 1.The 2% Rule is simply GSI/Market Vale (or purchase price, or ARV, or whatever you want to use).

Do they view contractors as simply blue collar folks or businesspersons?  

I had t buy my wife a van to accommodate for our third child and in the process I got her van financed at 3.5% interest.

Then, would any of you suggest simply listing a property for sale on the MLS for a flat fee and save 3% in commissions if the homes have how DOM, the market is hot in the area, and you have it priced right? 

Some sellers will want to see a credit report, but in most cases it's a matter of them simply trusting that you know what you are doing and that you will be able to continue to make money with the property like they have. 

I simply am still seeing too much fear and not enough confidence to believe that people are taking the kinds of extreme risks they were in 2007-2008 to cause a major crash.

The good news is, you can specify in your contract that if you buy something, and the agent does get a commission paid by the seller, that whatever you have paid to them, up to the amount of the commission, gets returned to you and the agent simply gets the normal commission.  

If you don;t hear back in 24 h, you assume they are not longer interested in renting your condo.

If at any time during attorney review you change your mind you can simply walk away.

Kelley1400 AT&T Tower, 901 Marquette AvenueMinneapolis, Minnesota 55402