It could mean a bunch of things but, at the least, shows a lack of initiative on their part.

Owner hasn't credit score, no any asset, the only thing he has is cash income (non verified).

I have no detailed or specific plan yet but after some initial reading and own thoughts I was thinking of the following.

Keeping up the maintenance and treating tenants fairly keeps places rented long after the initial 1 year lease is up, regardless of the market. 

Theoretically ppl in our situation ,if we are still saving that 40k/yr, then are able to pull out that 60k invested by refinancing 1yr after the initial investment.

@Linda S.I dont think anybody would go 25k higher then initial offer they already submitted.

@Val Jaz just FYI you can change your name in your profile settings to just show your last initial as a lot of us have done, and I believe it will retroactively convert all your old posts including this one to the initial version, less likely to pop up on top of a google search that way, might not be a bad idea.

If I was to put in an offer for that property my initial gut instinct is to not work with him to put in an offer on a property he is also listed because of conflict of interest. 

Initial investment; Intro to REI How did you find this deal and how did you negotiate it?

Now they don't run background checks, but can verify the person is who they say they are.To allow certain people to view the property in your absence, there are locks now that use Bluetooth to unlock them.