Still in the early stages of conversation but got some beginning information and wanted to see if this was worth pursing:Asking Price: $550,000 (I already assumed that was too high, trying to figure out a reasonable price to offer)Income: $4000 a month (believe there is potential for rent increase (waiting on specifics of each unit))Expenses: $900 a month (Water, Garbage, Taxes, Insurance, Maintenance, Pest, & Septic) Self- ManagedNOI: $3100 a monthCap Rate: 8.72%Stable TenantsDoesn't need major workGood Area, Decent SchoolsQuestions:1) What is a fair win-win offer?

@Matt Fore Yes it does have to be capital gain although there is some language that just references "gains" so we are waiting on additional guidance as to whether ordinary gains would qualify.I think the reason capital gains need to be invested into the funds instead of straight cash is that by recognizing a capital gain you are selling something which promotes economic activity (selling stocks, businesses, real estate, etc.)

Another item to keep in mind is that, in many states, in addition to the "homestead protection" mentioned above, most types of retirement accounts are also protected in lawsuits. 

I was just curious if i should go ahead with it or wait until spring when I’d likely be able to fill the house quicker.

Wait so it's been working for a year since when tenant messed with it?

I don’t want to be one of those that throws up a number and wait for someone to bite the deal.

That way if the market tanks at any point I will sleep like a baby and the cash register will still be ringing.I think I mentioned before Las Vegas may not look as good on paper for returns as some of those other areas, but I don't look at just the return I look at the entire picture which includes the property itself, the location, the potential tenant base, the management, the city economics (demographics, growth, taxes, COL, etc), and even the city itself would I live there, the distance from me, etc. 

As @Michael Badin mentioned, make sure your comps are doing it too or that your rents are below theirs if you plan to do it so the overall costs to the tenants are similar.

The first time I scheduled a meeting with the owner to discuss rental remodels and when I showed up for the meeting he across the street to eat and told the secretary to tell me to wait (on the phone).

Since, you mentioned you just got a job.