Your purchase price should maybe be +/- $2000 from the appraisal price, but typically you should pay the appraisal value.Everything should be in-house - rehab work, management, etc - a turnkey company shouldn't be making you sign a contract for a third party management company because then they aren't really accountable to you long-term, the PM is.Beware of scarcity or scare tactics in sales.

I've got a lead on an 18 unit motel property with manager's quarters that is coming up for sale as the owner/operator is retiring.

My assumption is the 1% rule means you need to bring in 1% gross monthly rental vs sale price. 

Well, it's tax season and tax SALE season. 

I just relocated from Oklahoma City and I'm looking to hustle my way into real estate market in the Dallas, from investing to sales.

Buyer will be less qualified for the same amount of loan; in plain English, buyers cannot afford the price of the property that he or she is looking at to buy at the higher rate….An educated buyer agent should search more (work harder) to find a similar property for his buyer, it is not a bad idea to search for motivated sellers or short sales.

It states buyer will pay broker 2.7% of sale price and $425 for admin fees. 

Holding costs include paying taxes, insurance, utilities as a minimum for the duration of the Rehab and sales period.  

Some contracts allow for agreements to be renegotiated in case of a sale.

It will most likely be a short sale.