Hi @Adam WorthNote I'm not an expert negotiator but have been doing sales for a while now and since I'm still very young I'm noticing that the results you seek out of life comes down to how well you negotiate lol from buying a car, going on a date to everything (at least my experience lol) But this in one of the reasons I truly love Real Estate there's so much information out there for your disposal that you can justify the offer your going to make regardless the amount.Since he's your neighbor don't feel like you're going to insult him because you just never know what that person is going trough in closed doors a ridiculous offer just might make his day especially if he can't financially keep up with it or it's stressing the person out.Regardless just be prepared with facts baking up the offer your making, you can do this buy talking to a Realtor to get a CMA to see what has sold and get a ARV since his home is similar to yours, since you mentioned he overpaid this tells you that he might be underwater or have no equity this gives you an opportunity to ether lease option or some type of seller financing.

If something goes even a little awry that affords a 1penny difference in the second transactions numbers a 3 day notice (new rule) to the actual persons involved would need to be required to allow their review of the new figures...

I'm trying to understand a few things about the notices that get posted in the paper along with a few other things.Do yellow letters still convert well when mailed to the property/decedent's fiduciary? 

Also, I have noticed that duplexes can be found in the burbs more readily than triplexes or fourplexes.Philadelphia is a city of neighborhoods.  

Can I enter daily, w 24 hr notice?

During the inspection we noticed some water seepage in the basement. 

I've read Fannie has a product for parks over $1 million.

That is great that even though you endured some stumbles, and noticed some mistakes, you evaluated where errors were made, and are taking great strides in the right direction - to be profitable in real estate!

You may be able to deduct interst and property taxes if applicable but no notice is given to the IRS when you buy only if you have income from a rent or gain/loss from a sale of an investment property 

Bcuz you'll have to give notice with dates when rules will take effect.