It could be A) you are asking them to pay closing costs which could be about $10,000 or moreB) They know of repairs that are needed to get FHA approval that they would have to complete which is why they requested conventional onlyIt could also be both. 

You can buy a home that could need rehab or cosmetic repairs and fix it up yourself.

Gary Clisele Also if your buying a note for $5k the quality of the asset will be very poor and is most likely a property in a D area that needs extensive repairs -If you end up taking the property back it will probably be a loser since the rehab will be higher than the property is worth

Purchase price is 130K under the conservative ARV, repairs are unlikely to exceed 75K, most likely 50k.

Price and quality of the work were also never issues, as my GC has been very good on those fronts. 

Just make sure you have money in reserves to cover a few months of vacancy as well as any large repairs. 

However, as others have mentioned before me, it has gotten increasingly more competitive due to the growing number of investors looking to get into the marketplace, AND an increase in the demand for quality projects.My company is currently purchasing roughly 200 flips and rentals per month in 15 or so markets that span the US.

Designed specifically for renting so you can set rent amounts for all your properties, keep up with who's paid and who hasn't, and dispute rent (as well as home repairs and anything else) through the app as well.

2.Repair history and cost of repairs going forward.What else am I missing?

Depends on the kind of neighbor you want to be. 1) Play hard ball and wait until you get a small claims court summons, then offer to settle for cash (for that small amount I wouldn't get insurance envolved) 2) Offer to pay all or part of the cost of repair to make it go away.