Definitely recommend you run the numbers and a quick way to do so before you get too deep and waste alot of time is to write down this:Purchase Price Cash to Close Rent-------------------- Property Tax per monthInsurance per month HOA Mortgage Vacancy (x%) Repairs (x%) Property Mgmt (x%) Total Expenses: XThen find out your cash flow INCOME - EXPENSESCap Rate NET ANNUAL -MORTGAGE ANNUAL / PURCHASE PRICECash on Cash Return NET ANNUAL +MORTGAGE ANNUAL / PURCHASE PRICETakes like 10 to 15 mins to evaluate the numbers.

Free to use, easy to set up, and totally automated so once you set it up the first month you don't have to touch it again (it just automatically transfers the funds from the tenant's bank account to yours).

I'm probably missing a few obvious things so please let me know if this fosters additional questions or discussion.

It will always present the tenant as totally innocent and always end with "I just don't know what to do!"

Obviously this is all speculation if you really think you’re right you could try to get a second appraisal but I would recommend getting appraisers opinion of the appraisal you have first.

@Rhonda Wilson ok i totally understand but like i explained to him, i wouldnt be taking his technically off the market bc he still was shopping around for offers.

He offered to take a half percentage off his fees (4.5% total) if we end up selling to his client.

If you hold the asset for one year or more, you pay long term capital gains tax, which is most likely 15% (but depends on your total annual income and filing status). 

I totally agree in giving a name or phone number or even some free advice every once in awhile, but what the majority of people are asking for is to basically teach them everything the mentor knows if not just do it for them....all under the guise of "doing my part" and giving back.    

Obviously, the original lender always wants 1st claim on the collateral in case of the default .