As May rolls into June, the jury is out if we’ll have more inventory.

Daniel gave some great locations to checkout and the hope is there may be a little more inventory available by then.

We immediately did a cosmetic rehab on the property and over the years have made cosmetic improvements.

This is where you can begin to see where there are operational inefficiencies, cost overruns, or areas where income can be improved.

There were a lot of operational improvements that we were able to make right away.

We can fit it in the budget, the numbers still work well, but I'm don't know how impactful it'd be to potential renters and dont want to over improve or waste $12k! 

There were a lot of operational improvements that we were able to make right away.

That said, if your return expectations are out of sync with the current market you wouldn't expect many deals to be accepted.If you don't think your offer price isn't going to work, look for other ways to improve the deal (alternate financing, new income streams, etc) to see if you can bridge the gap between his asking price and your needed returns. 

Bank some money and do what you have to do to improve your credit if needed to qualify for conventional loans.

If you have need to improve the interior, you might prefer the BPO.