Amount of reduction in 1st floor unit value due to it being smaller?

Typically property taxes are included in the maintenance...your uncle may have been paying receiving the senior citizen reduction which would reduce his taxes in half..2nd-  Also confirm with the board that they allow the apt to be rented out..

But to tack a $10k fee onto a deal that's already thin (using the 70% guideline) just smacks of greed (or stupidity, or a fundamental misunderstanding of what an investor buyer is looking for).Pigs get fat; hogs get slaughtered.

Look at the New Listings- but Bid on BOM ( Back on the Markret) 2nd Price reductions etc.

Maybe the reduction of rental needs will result in some good deals at the end of the summer.Thanks for the well wishes.  

This is more an appreciate/debt reduction play.

You also have more latitude for negotiating with the borrower for a loan mod in terms of principal reduction and/or arrearage tactics, since your "true" equity is the current value of the home. 

If it's a real concern, obviously walk, or get a price reduction that makes you more comfortable.Good Luck!

The reduction in taxes can be huge.

It'll have to be an ARM with a higher interest rate" and NOT had them come back to the seller wanting a steep price reduction, if not out of the deal entirely.