Inspections of property that already has a tenant

[Libby Baugher]

Hi all,

I'm looking at a duplex that already has tenants. I've given my offer and the owner has come back with a counteroffer of the same price but with no inspection. I've done a walkthrough of the building and although it is dirty due to the tenants (nothing like the horror pics I've seen of other landlord properties, this is just the way they live) it has had some big ticket item updates within the last couple years. The tenants want to stay and I'm not interested in doing any rehab until they are gone. It gives me great cash flow which I plan on saving for any repairs that need done that may arise within the next few years. I believe the offer is below the home value by at least 5000 dollars but am not 100% on that. 

Thoughts?

Libby

[John Underwood]

@Libby Baugher The other option is submit 2 offers.

1. No inspection, 20k less to accommodate for the unknown.

2. With Inspection, price you already have in mind, contingent on inspection.