5k isn't going to make or break a deal. You can also counter again.
@Krystal Watson - I agree with Mark that $5k isn't going to make or break the deal. My question to you is this: do the numbers work for you to buy a place for $75k that brings in $700/mo? If so, go for it. If not, move on.
Personally, it's unlikely those numbers would work for me. Once you add taxes, insurance and maintenance, how much of the $700 is left? I probably wouldn't pay more than $50k or $55k, but that's me. We all have our models and what's important is that you stay true to the numbers that work for you. Good luck!
Pass! With closing costs you will have negative equity and the cash flow is nothing to write home about. Your time is too valuable to spend on marginal deals.
Set a $1,000 budget and mail to every absentee owner in Ennis, Montana. You will find a better deal.
thanks all for your responses. I analyzed the numbers again and we just offered too high, no big deal just glad they didn’t take it. Back to searching!!