@Kevin McGuire I wonder why that listing expired, those numbers don't look too bad.With 20% down, the debt service (at 4.25%) is $32,903 annually.That leaves $17,924 in actual cashflow (just under $1500 monthly).I wonder if those numbers are legit, or if due diligence brought most people to different numbers.Anyway, student housing is always going to cashflow better than SFH, but it's also going to require more attention.

Asking Price is 556k        Appraised Value "Sales comparison approach" 598k         Built in 2004Decent location in the middle of townAll units currently rented "Units leased are 1 year leases" Unit A Leased Dec 2018 $775Unit B Leased Sept 1 2018 $700Unit C Leased Nov 2018 $900Unit D Same renter for 3 years, month to month current rent $850, they are upping the rent to $900 in Feb 2019Unit E Leased Oct 2018 $900Unit F same renter for 2 years, month to month current rent $850, they are upping the rent to $900 in Feb 2019Unit G Leased in April 7 2018- March 31, 2019 $700 Unit H same renter for 3 years, month to month current rent $675, they are upping rent to $725 in Feb 2019Total current income = $6,350   After rent increase next month income will be $6500Expenses - Tax $817- Est.

All of that would change how I approach him and try to negotiate with him to make it work.

HOWEVER, since anxiety is a legitimate medical condition with which a service dog can be required, many times, just the approach of the discussion prompts a panic attack since the questioner (in some cases) is less than cordial in their asking OR the service dog handler anticipates a confrontation that may never take place in the first place.  

I am curious on an approach for newbies.

However, I am not sure how to approach the subject without making some stupid mistake.

It sounds like the only way to approach a project like this is with lots of experience/cash/time.

I would just approach and say  man that’s awesome and everything ! 

Beyond adjusting the offer/rolling the commission into my calculations, I'm curious if anyone has strategies for approaching owner-listed properties with a buyer agent.Thanks!

I'm just looking to get an idea on good approaches to gaining rental properties.