You won’t be able to borrow against a home in that price range.

The big difference today is we dont have to carry paper.. we buy for cash and sell for cash.. its a very narrow niche of course.. and the marketing is just like any of the wholesalers big spend on out bound .. and guys/gals that can close a deal on the phone..

The price today would probably be similar, in the range of 900-910k, based on the few comps I can see in the area.

When asking for an appraised value, if they hesitate, try encouraging them with, "What range do you think it would appraise for based on nearby homes?"

The offers I received for a cash offer (the property could not be financed) were in the $200,000 range.

Prices wont come down enough to justify buying as a rental, rents could be rolling over and interest rates will be range bound for a long time. 

I signed the contract, and am now bound by it. 

There needs to be a plan to pay the line under a range of interest rates, and to pay it off.  

You can easily find a turn-key property in the $250k range with cap rates around 6.

Assets identified in this study include:Appliances: Oven/range, dishwasher, refrigerator, washer/dryer, microwaveElectrical and communication systems: TV connections and dedicated equipment outletsCabinetry and CountertopsDecorative light fixtures: Sconces, pendant fixtures, chandeliersInterior Finishes: Crown molding, wood panel wall covering, window treatments8.20% of the total depreciable basis was classified as 15-year class life.