If the rent comfortably covers insurance, taxes, and reserves, move forward; if it’s tight, try to renegotiate or walk away.

Then lock the rules into the TIC agreement so you don’t have to renegotiate in the middle of a surprise roof leak.

It seems like a smart way to avoid surprises and make sure the property’s true value is properly reflected.Curious when appraisals have come in short for you, do you usually renegotiate with the seller, or do you have strategies to bridge the gap quickly?

You can renegotiate whatever you want regarding rate, responsibilities, etc.

It may help to renegotiate with the seller for more time so you can close on this without killing yourself in fees. 

Everyone here seems to have great insight/advice, I will see what I can do to help as well.At $7,500, assume that your mortgage doesn't change, and you are able to maximize rental growth, you are still ~4 years from the break even point, from a cash flow perspective.There are a few ways to reduce costs along the way: Renegotiate your homeowners insurance to ensure that you are getting the best rate, if you are covering utilities I would look into Solar and any form of water rebate, and if you are not self managing you should start as this can be your largest savings.We are likely still a few years away from interest rates being low enough to make a refinance worth it.

I will always abide by the lease increase if they stay into year 3 but no renegotiation is required since its already built into the lease. 

They are honest and transparent.When you get to a property, don't try to renegotiate the price unless there's a serious, undisclosed issue.

I've thought about hiring a lawyer to renegotiate with the prior owner, approaching a wholesaler, or allowing the house to go into foreclosure. 

Potentially renegotiate based on due diligence.6.