Like @Christina R. 

Shawn Holsapple view is definitely discussed in the book Landlording On Autopilot, and I know many people follow that method.  

But I think that if you can calmly and coolly and methodically prove that the value is only $X, while he may reject your offer initially, so long as you maintain a decent relationship he will come back to you after it sits on the market for 6 or 12 months.Unfortunately, that is a waiting game you may not be willing to play and you will be dealing with somebody who is far more emotional than logical about the whole situation.

I tend to think that you should allow tenants to pay via a relatively industry-agnostic method.

@Tamara R. 

@Evan R. 

@Nick R. 

You can read all you like, what you'll find will be methods, not answers as to costs.

I have wholesaled and flipped from bandits but nothing has met my buy and hold criteria yet from this method.

VRMichael R Ford