@Robert Kriedermann,You may want to soften your approach a bit ..."

That's okay though, they'll be back in their previous line of work once the regulatory environment softens some and banks ease up on their current ultra strict underwriting standards.  

This will help soften up home prices and allow you to negotiate a better deal.

Or at least soften the blow.

I would also be careful of doing it in a market that is going to be susceptible to softening otherwise you may not get all your money out.

I only have student loan debtI have a full-time remote jobI have no prior experience in real estate investingMy credit score is high 700'sHere are the details about the property in Zenda,WI:Asking price: $235KIt’s being sold by out-of-state heirsIt needs at least $50K in repairs and updatesThe neighboring house recently sold for $235K (though I don’t have details on its condition before the sale)A family friend who owns a construction company assessed the property and noted the following:Replacement Needed: Furnace, Water Heater, Water Softener, Floor (concrete replacement needed due to unevenness), Roof, GuttersUpdates Needed: 1.5 BathroomsConcerns: Black mold and water leak marks upstairsRemodel Suggestion: The staircase is very steep and narrow; recommended to relocate and extend it into the living spaceAdditional Work: The property slopes downward, allowing rain to flow into the house.

And investors will likely leave these tenant friendly states for obvious reasons leaving more homes on the market which will soften housing prices in those areas.  

But that's a 20 percent decline from when there is an oversupply of customers and undersupply of homes.Scenario 3:  Softening demand cycle.  

That said, that now that the market has softened a bit, folks wanting the work permitted is probably going to be more common so it may not be a bad thing.My final thoughts are about your hard money lender.

Still a tough market for buyers but I think it'll soften in the next 6 months.