One type of property that strikes me as a little unusual is something like:~800-1100 sq ft2-3 BR, 1-2 bathSmall lot, maybe a detached garage but usually notPrice of <$60,000I'm looking in a city where the average home is about ~160k and I see a lot of these very small, apartment-like homes for sale in the 50-60k region.

He said the average is 120 day occupancy per year. 

Even Ty Cobb only had a batting average of .366OCD is destructive, so take the tact, "What can I learn from this experience?"

My problem is my Realtor has pulled comps of $225 - $250k with an average sf price of $125.

Is that a good offer or an average one?  

I would love to get a feel for average numbers in Houston and surrounding areas like cap rate, vacancy rates, expenses as a percentage of gross revenue etc.

I will say that the national average for direct mail response rate is about 1% best of luck to you on your campaign if you have any questions on a great CRM to use feel free to message me! 

If you average out the cost of replacements and the service life on the components you come up with something like this.  

http://www.har.com/content/newsroomHouston Real Estate Highlights in January Single-family home sales rose 1.7 percent with 4,080 units sold;Total property sales edged up 0.9 percent with 4,997 units sold;Total dollar volume jumped 6.2 percent to $1.3 billion;At $210,000, the single-family home median price rose 4.0 percent to a January high;The single-family home average price climbed 5.3 percent to $275,696, which was also the highest level for a January;Single-family homes months of inventory climbed to a 3.5-months supply;Townhome/condominium sales fell 5.4 percent, with the average price up 1.4 percent to $187,178 and the median price down 1.1 percent to $138,000;Leases of single-family homes rose 5.7 percent with average rent down slightly to $1,718;Leases of townhomes/condominiums increased 6.0 percent with average rent down 4.7 percent to $1,497.

Don't touch your money for vacations or other non-investments.Stocks are much more liquid than real estate, and on average earn 5-10% annually which trumps savings accounts.