I initially listed it at $147k, but after 2 ½ weeks of zero offers we decided to reduce to $141k and that’s when things really picked up.

I really don't see how this rule reduces the risk for the bank.

The original listing price from March 2016 was $39,520 and it has been reduced 5 times since then (which makes me nervous lol)I figured the Capex at 8% It should have been in there somewhere. 

Properties can also have some of their crawl spaces or basements filled in to reduce premiums. 

It will allow you direct access to the MLS and can reduce your closing expenses on properties that you buy/sell.  

I would say the down side is that having a loan will reduce your loan capacity so it would be detrimental from that perspective. 

.- Turnover every couple of years - It is extra work, but tenants in a college town are easy to replace and the hassle is also offset by reducing the risk of getting stuck with bad tenants and having to evict them.- Extra bodies in the house - girlfriend and boyfriends that move into the house without a proper lease agreement.  

I have two updates to this thread:1) The purchase price has been reduced from $27,900 to $25,900.2) The closing is set for Wednesday, January 27th.More updates to come once I close!

Cash flow reduced $300 monthly with the new loan interest.

I've looked into alternative nitrogen reducing systems (such as Bio-Microbics MicroFAST) which look promising, but I can't count on them.