Too many unknown variables (i.e. age of property, condition, market cap rate, seller motivation, owner financing terms, upside in property, etc.) in play to give more concrete thoughts. 

So for me they are combo plays if you will, I know I will be getting the cash flow monthly and I am getting them at a good enough price where I will be able to get some appreciation dollars upon selling, whenever that is.Advice to my clients: I tend not to advocate investing strictly based on appreciation (even in a desirable place like west hartford).

Hmm i guess i can play devils advocate a little here as i am a realtor and investor.The MLS is a great way to find properties but even as a realtor i don't find all of my deals on the MLS. some of the work has to be done on your end!

@Jon Holdman I thought a portfolio lender might come into play here.

I'm starting a local CashFlow Meetup in Berkeley, CA, for the greater San Francisco Bay Area.http://www.meetup.com/Berkeley-Cash-Flow-Club-and-...This is just to come together  play CashFlow game, get to know other investors and discuss various RE stuff.  

How foes the lot next door come into play here, should I not even look at that as part of the deal as far as numbers are concerned?

I was wondering how the currency play works between the Aussie dollar and the U.S. dollar.

I'm very interested in networking with other players in the area and getting my venture off the ground.

Think of it like creating an entity that exists specifically to play the role of the character conducting business activity in your best interest, that will also play as the role of the filter for anything earned or owed.

If he wants out, he has to be willing to budge on asking price.That's how I would keep trying to play it for now -- negotiate hard to get sale price down.