I guess I'm just a little frustrated because two of my current deals looks like they are moving from the great category to the good category (and possibly to the "just barely meets my minimum requirements" category).

More than likely, you don't have a complete HVAC, old wiring, you have old windows, a bathroom which is lime green, baby powder blue, or pink, linoleum floors, and a cobbled together kitchen, and a weird garage conversion.

Most of my clients barely have time to breathe they are so busy and just want something that goes and they collect a check.You can find small NNN deals sometimes like a Pizza Hut for 300,000 at a 10 cap or things like that.

.- the area is a University town, and the property is relatively close to the campus, so rental should not be too hard to get, but turn around might be high, like every year.Using the free analysis spreadsheet, it looks like we are barely $100 positive a month on this one.

Tried REO and people would come in and paid cash just barely under the list price.

That number, however, is far above what the market will bare at this time.

Mainly enough cash to protect the rental property-barely and not much of an emergency fund, but that is the risk I choose to get a great deal on a new house in this market.

Zillow puts the Zestimate of non-rental units surrounding this one around $170K, although recent nearby similar sq. ft sales have been in the 240K range....So basically even if I offer $100 less than they want, it's only a barely acceptable deal for me.

That's not good enough (it's the bare minimum) for an LLC. 

I estimate the property needs a good $7K.I have the cashflow for the $5-10K (but just barely)Options as I see them1.