But in that instance I'd want to see that there is some fair volume of retail O/O sales activity in the area supporting the valuation as another exit option.

One bank recently sent me the following opportunity:- Single blanket note backed by 32 condos units in major metro Texas- 90% occupied; avg $700 monthly rent/unit- Current full retail appraisal $1.4m (bulk appraisal $900K)- Interest, fees and delinquent property tax $170K- NOI $1.47m; 10% cap rate- Unpaid balance $1.165m- Asking $1.2mTo me, this doesn't look like a good deal given (a) the fact the note is backed by condos which some investors consider to be a risky investment (b) there is such a slim LTV margin, especially if one assumes that the appraisal is overstated and (c) if one were to decide to foreclose on the properties, the numbers just don't work.Since I know very little about notes I realize I may be looking at this through the wrong lenses so I'd appreciate any comments/input from BP seasoned notes experts!

They signed a 24 month lease for $1300 a month.Normally I wouldn't even consider paying anywhere near retail but it this case, if he would finance 100% of the price for 20 or 30 years at say 2% the cash flow would be from $350-$500.It is my belief that I can give him his price if he is willing to accept my terms but my partner is hung up on the price.What do you think?

I'll ONLY be listing houses for retail clients and working directly with investors.

Retail buyers rely on financing that may or may not happen.

If you use the 2% and 50% rules of thumb in evaluating price (and there is a lot written here on BP), you'll find that all too often prices and "cash flow" in the retail market are defined as Rents less PITI, a very short term possibility, but a certain long term cash loser.

If you are looking below or above that range for rentals, I don't know as much as because I don't invest in those areas though I have done some retail flips between 100k-200k.

I also do not "quiet title" because I usually sell everything as "Sold as-is" and I do highly advise all bidders or buyers to do your due diligence...NO REFUNDS or anything which is why I sell them wholesale and not retail...Its very simple I get in and get out as fast as possible and with land it works perfect for me.

For my final #'s I figured a 6 month holding time; but hopeful to retail it way sooner than that.

The retail landscape is changing drastically and a greater amount of retailers are becoming extinct.