@Jesse Cornforth Thanks for the response Jesse!

It's in relatively good shape, hardly any issues, and the current tenant is very cooperative and responsible, he intends on staying for at least another 2 years.I'm seeing this as an opportunity for my first buy-and-hold property.

Keep me updated on how you make offers and what the responses are like.

I am reviewing a property management agreement and came across this clause RE: Indemnification that seems too broad:INDEMNIFICATION:(a) The Owner shall indemnify, defend and save Agent harmless from all suits and/or other legal proceedings whatsoever and cost incurred therefrom in connection with the management of the Property and from liability for injuries suffered by any employee or other person whomsoever, except in cases of willful misconduct or gross negligence on the part of Agent or its employees, (b) The Owner shall indemnify and hold harmless the Agent from and against any costs, loss, expense or damage (including attorney's fees) suffered or incurred by the Agent arising out of or related to the enforcement of this Agreement arising out of a default or other breach by the Owner, the management, operation, improvement, alteration and leasing of the Property, including all other activities arising out of or related to Agent's duties under this Agreement or as a result of any act or thing done or permitted by the Agent or its agents or employees; provided, however, that such indemnification shall not apply to any such cost, loss, expense or damage to the extent that the same relates to or as a result of conduct by Agent which constitutes willful and wanton misconduct.It seems like if one of the Property Manager workers (aka Agent) slips and hurts himself while cleaning the floor the "Owner" is then responsible. 

Thank you for your response Wayne.

I told her that I would maybe offer them 200k (and that would still be only an “ok” deal) and her response was a prompt “they wont take 200k.”

Some of the small things will also make a big difference like: is your tenant responsible for their own appliances (to cut down on maintenance calls) and  what actually is the markup on the service calls?

Thanks for the response Susan.

I wouldn't recommend a response like you wrote.

Will these back association fees be my responsibility or will they be wiped away since in foreclosure?