Because its smaller, the subject is likely worth less than that comp, if everything else is equal.

In spite of considerable due diligence, I have a not insignificant natural gas problem that will equal $$$ to fix.

From the photo, I'd probably spend the 9-10K on vinyl and another 1-2K on low-maintenance landscaping.As a tenant...It's all about curb appeal (all other things being equal of course).

I may be equally as likely to jump all over something that I should not have touched because I'm anxious to get my 1st deal under my belt.

If you can, show how your offer is equal to 100k.

I'm thinking each state / counties have different proceduresFor example ( Wisconsin ) : I just showed a property to potential client earlier todayClient/buyer here needs to contact a real estate agent for showings / accessClient/buyer agent fills out our city of Milwaukee standard contract offer :~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ -- including offer prices -- estimated rehab cost -- etcOur county office give owners occupied tenants initial 30 days before opening up property to investors / non owner occupied buyersOwner occupied here is required 5 years of residences buyer / client must fixed any code violation within a certain time frameHere 30 - 45 days to close propertyHere client/buyer must locate their own fundingHere certain areas city of Milwaukee will match rehab (NSP) up to $30kHere equals Milwaukee County

Then work it as to how much its going for per sq ft to come to the CMV which will equal your ARV.

If I had a tenant with 1.8-2.0x income vs. one with 3x income...all other things being equal, I'd take the 1.8x income with 1 year paid up front over the 3x income.If everything else checks out with this lady and she seems like she'd make a good tenant why give up a year of guaranteed rent for somebody who makes a little more money?

Your new mortgage is $426.83. on $86,250This now give you a COC of around 11% in this scenario with about 10K less out of pocket all else being equal.

It's equally important to have a lender who knows FHA inside out if you take that route.Good luck.