Appraisal came back too low

[Steve D.]

Strange problem I've never encountered before in my 12 years of investing that I wanted to get some opinions on. I got a quad under contract, based on the rentals I thought I got a decent but not a killer deal in a good location. So the appraisal comes back about 30k under the contract price. My first time the appraisal came back lower than contract price. Kind of caught me off guard . Anyone else encounter this before and what do you do, ask seller to drop price to appraised value ? Can't get a mortgage for anything over the appraised value....guess didn't have as good a deal as I thought 🤔....but numbers still work for my purposes! Thoughts ? Thanks