This does a few things:It allows the seller to drop the price a bit and give us something of a "bulk" discount on the purchase.It allows my buyer to negotiate cheaper prices with their contractor.

@Lesley ResnickI call their previous landlord, I look them up in the county clerks office for prior liens or judgements, and if I need to I’ll go to their prior apartment to drop off the application.

The population of Winona dropped 2% not a growth market.

Coincidentally the bldg inspector drops by & we get a code violation.

It’s been vacant for 5 years and recently it’s been taken off the market even though they have dropped the price below market value.

I reached out to yet another contractor over a week ago who said he would drop by the property early last week for an estimate.

Feel free to drop a note and say hi.

He is a tough SOB so she did well, but he would drop in unannounced several times during the rehab. 

The loan rates they quoted seemed too good to be true, but Im concerned with a HELOC if the market drops, and the interest rate is variable, when the Feds start raising rates It would see to be far less beneficial to go that route vs paying .5-1%  with a cash out refi, when im putting it in a high yield account, and holding onto the cash. 

If you're in any of the rent controlled cities, not only do you have the downside risk for the value of the property dropping, but you also have the downside risk of rents dropping and you getting longterm tenants in that prevent you from achieving market rents once the prices start to rise again.If you want, shoot me a msg with your property address and I'd be happy to give you some more detailed thoughts...