It looks like he found his exit strategy: California Investors Rushing to Own Limited Opportunity Investment Properties in Tennessee Rare Opportunity to Own Part of a Multifamily Development in a Rapidly Growing Area FOR IMMEDIATE RELEASE PRLog (Press Release) – Aug 22, 2008 – SPRING HILL, Tenn. – California property investors are quickly acquiring property in the 15th fastest growing area in the United States, conveniently located near a major General Motors Saturn Plant and just minutes away from the Nissan Corporate Headquarters and a Verizon Regional Headquarters.

I just think sometimes buyers agent may try and convenience you to bid little more or if they know your flexible on your price the may convey this to the listing agent without any salesmanship and trying to make quick few bucks.

Does your lease state that the items are there only for the convenience of the tenant and you are not responsible for repairs?

Do your initial research online then drive into the town and start chatting with convenience store clerks about the area.

Unless you're prepared to submit a full price, all cash, no contingency offer and say the bank can close at their convenience, the house will most likely either set while the bank gyrates on your offer, or will go to someone else.

They are convenient (locations almost everywhere) and have a range of products for the small business owner.

So why would I risk that just to make your life a little more convenient?

It was fun and convenient to get a home loan by simply calling Countrywide and asking, and having the money in 2 1/2 weeks, but it was not good fundamentals.

We rent from RedBox ALL the time, it is very convenient and much much cheaper then Blockbuster.

Though the 50% rule is quite good and convenient, I would rather project possible rents and expenses under different economic conditions (say expenses range from 40-60% or the property appreciated/depreciated from -5 to +5%, so that I can have a handle on the range of possible values.You are correct in that cap rates are not relevant in finding the market value of a SFR.