Fair point. 

Cap rates have some flaws, but they are one of the good measurements of real estate return.It is fair to include closings costs into the purchase price, to determine your cap rate. 

Build a buffer of time and repair cost accounting.Additional infoWHOLESALINGlistingbook.com or equivalent serviceupdates via email bank owned properties, price changes within range, new lists at/below $50,000 (not worth $50k)Send realtor offers with number/house address… they send to banks.. maybe 1/10 accept an offerRealtor gets a contract for youYou go check out the property to ensure nothing is crazyYou may be prompted to put down a deposit about $1,000 (don’t have to)Check that the title is clearPlace the house back on the market “handyman special”, cheap, cash, phone, email) at least $10,000 more than your offer.. eventually you may build a ‘buyer’s list’Get the new buyer to sign the contract with the realtorTAX DELINQUENT PROPERTIESLocal assessor - contact for people with delinquent property tax records —> excel listSort excel for names, addresses, amount of taxes, taxes that are 2 years old (and older)Contact the owner via letter ‘im oliver, I see that your property is behind on taxes…’“Dear Mr.

However, we cannot seem to come to terms on what a fair price is.

Fixer upper style will not work here right now and I live and work in the Cy-Fair area.

That's fair to you and only an unreasonable seller would insist you pay an amount that's far beyond fair market value.

The property needs a fair bit of work both inside and out, but nothing major (all mechanicals are within 2 years new thankfully). 

What would be a fair interest rate in today's market?

@Basilio Morales an appraisal is usually no more than $495 unless your buying a fairly big house.

Hey everyone,I wanted to post and see if anyone who’s more experienced than myself can help me understand rough estimates for painting, drywall repairs and cleaning costs for a rental on the west side of Cleveland.To give some general information, there’s some dry wall cracks, painting of the entire interior which is 850 square feet and deep cleaning of the entire interior since the former tenants left behind a fair amount of food and broken furniture.