I have 22 furnished rentals in this town. 

Just look at towns along train lines who are all enjoying major redevelopments (ie my hometown of Bloomfield). 

I am wondering if I need to lower my asking price even more, but I don't believe he is super motivated and will accept a low ball offer.All the homes were built around 1950 and range from 850-1100 Sqft.

A quiet town that is on the verge of a boom (college opening up 1 mile down the street next September).

As you dive into the topics you will discover many more questions and working with an agent who is also an investor and can mentor you on these things is priceless (I wish I had one when I started) - you should check with @Sam Erickson, he is on your side of town and is a great guy to talk to.

This tenant recently sold her brand new home and is now living in my 1,000 sq ft home built in 1950 and she bombards me daily with complaints about things being old and gross (literally), even asking us to replace all of the electrical outlets and build regular closet doors (ours are floor to ceiling metal doors).

It's a 3/2 in a pretty nice, standard mid-range community built in the late 70's. 

The reason I am telling you this is because I have never bought a commercial property, I have always built them, and because I don't have a GC to pay, and with my design that I hope has some creative thinking when it's maximized, you should do very well!!

Hi all ,I talked to a friend of my parents yesterday , who is long term investor .35 years ago he sold property in big city and bought a ton of places on small city Midwest , chasing cash flow .But now he regret , he wish he kept his property in big city because appreciation is crazy while his small town investment , even after paying off mortgage and after 30 years foxes etc still didn’t value much compare to 30 years.I just release might be we should not chasing the cash flow so much and buying to small Mideast Midwest towns.

i hope you built that into your Cap Ex budget"