Had a talk with a close real estate agent today (Manages about a 100+ agent office). I've known him a long time and decided to approach him to gain some info/network. After an initial discussion with him, he came back...

Last, most "deals" I have seen in FW over the past few years have been extremely overpriced for the condition or location or both.

@Nicholas Pantaleo the issue you are going to run into is that most local banks will offer you their "portfolio" loans which are exactly the same as the loans they offer for apartment buildings.

Thats not a huge number but its something I could definitely work with assuming something doesn't go wrong like bad roof or plumbing (which owners says is in good condition).

Hey Guys I have a creative deal I put together and the financing for it is going to have to be just as creative.I am buying two properties next door to each other and subdividing portions of the very large backyards to create a 3rd lot to sell for the profit (see pic.)Both home are in good condition and upgraded (minimal oppotunity to add value.)

Exactly.

I think you should ask the seller last time what does it take ($) to sign the contract or you can tell her best you can do is offer say $60K with quick closing as condition. 

Thats not a huge number but its something I could definitely work with assuming something doesn't go wrong like bad roof or plumbing (which owners says is in good condition).

appraisal house price exact same as the purchase price .

appraisal house price exact same as the purchase price .