However, it has been empty for 10 months, and we reduced the rent to $795 for a 3/2 1200SF duplex home (from the original $1126 estimation), still nobody willing to rent.

If the buyer stops paying in a wrap, the seller finds out right away and has a chance to deal with it.

I read it on this forum, sorry I don't remember who posted it -Never feel sorry for your tenants, because they will never feel sorry for you.I saw this in action when I was a tenant in a multi-family house and watched my landlord give another tenant chance after chance to catch up on the rent.

However, it won’t take long for them to be willing to take a chance on you.

This from a contractor who I called to give me an estimate on installing a window through the hole.

I have a contract with a seller, the house may need more repairs than originally thought.Asking price was 160FMV in as-is condition 170-180ARV 220-240My price 123Original estimated repairs 20-25New estimates 30-35kRoof and asbestos siding may need work, and I was unaware of siding being asbestosWhat are some tactics I can use to get the price down?

If you have a property picked out take photos of it, get the tax docs from the courthouse and draw up your income/expense estimates for the first year and show how you will make it work.Place COPIES of all of these papers in a 1/2" three ring binder that you can give to your banker and leave it with him.If you have a good well thought out plan and good credit you should be well on your way to getting pre-approved for your investment property.

And of course, double your repair estimate :wink:

I would get a few calls back, and it gave me a chance to make appointments and learn about the process form the trenches.

This is also why you want a 5 year lease option with the seller, so that you have multiple chances to sell the property.