Do you want a multi unit but no more than 4 units? 

At any one time, I would typically have 5 to no more than 10 SF houses purchased via sub to in my portfolio. 

They said they still were not interested. 2 weeks later the agent of the property reached out to us and said the owners would come down $20,000 off the price but no more.

Just my quick analysis....NOI should be around 10,910 @ 50% expenses....Don't count the commercial space....it currently has no income, and that could be your value play, if you get it fixed up and rented.I don't buy anything less than a 10 cap, and I try and buy at 12% cap rate (based on my numbers not theirs)Based on this info, I would offer....91K, and spend no more than 109KBut that is just me...you have to come up with your own buying criteria.If it is buy and hold, then that is your exit strategy.

I used these calculation to decide i should offer no more then $132,825.

Or maybe someone from New York will think that 400k is cheap because apartments back home are $1mil.It is stupid, but for some people who have no morals, it works.

Now that I am no longer single the option to house hack is no more and I would like to scale my business by acquiring more properties at a faster rate.

@Jag SekhonI have out of state properties & have experienced first hand the pluses & minuses.Proximity is important to me:1) The ability to monitor a situation with first hand information.2) The ability to step in if needed to manage a situation3) Familiarity of areas, laws & regulations.Here is my personal preference ladder of priorities for rental property:1) Locally owned property2) Regional owned (no more than a 3 hour drive one way)3) Joint venture locally4) Joint venture regionallyI live in an city where the average home price is $616,000That $616,000 house would rent for $2,800-$3,000/month.

All in they are owed $100K an no more.

(I'm thinking no more than $236k)The building is all brick and has a new roof installed.