If you plan to stay there a long time 10+ years then likely the value will be the same or likely greater even if prices soften in between.

Once we know this, we can then explore options!

@Chris Rogers higher interest rates have caused most Class A property purchases to NOT cashflow for an approximate 3-5 years.So, many naive investors are chasing Class B, C & D properties to cashflow, WITHOUT fully understanding the scope of the additional risks involved:(Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

And if they are 50-70% leveraged, AND the equity is performing at 5-7%, then most people would be living off of most of that come and have only about 10% of it to donate or sacrifice.

If unit needs work to get to market rent and tenant decides to leave then do whatever cosmetic work needed and get new tenant.

If they counter, I would then request info to be able to qualify them as a tenant. 

Then if they say your offer won't work, you can respond.

It didn't occur to me until we had lots of problems, and then I asked a friend who is a police officer. 

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

The numbers and landlord laws out here made sense then, and they still do today.