I concede that you're not going to be able to pick up 1% deals off of the MLS very easily, but that doesn't mean we have to give up and start buying illegal rental properties either.   

Estimated cost of this crap-shoot is $5,000 - $10,000 plus whatever we have to concede to neighbors such as special landscaping, fences...etc.

If you are in that position of strength, then I'll readily concede that living next to your tenant is probably fine.

I pursued a RE developer out of college until he finally conceded and gave me a job working for peanuts.

I think you and Mike had similar points about the degree of distress some sellers are in, which I concede, I may be underestimating.

So I'm fine with conceding that I have a face for radio...Talking shop...Ben, I think it's OK to offer an investment with an IRR less than 15% if you aim to appeal to investors that value safety over yield and you find a property that has safe characteristics but produces a lower return.  

Offering a decent return and equity stake for bringing the dough to get your next deal done is far better than watching your competition or a Yogurt shop go up across the street because you were too scared/greedy (in a polite way) to concede a bit of your profit to get the deal across the finish line.I also have access to a few dozen Equity investors that may be interested in your deal if you have exhausted all other avenues in your own circle of influence.Keep us all posted of your progress.

If you are considering making "concessions" like tolerating late rent, then you should require that the tenant concedes to sing your lease agreement.

The sellers attorney had to concede and move forward with the deal.

[i]RESPONSE: Again, you are comparing apples and oranges but...The front end mortgage insurance can be financed and or gifted/granted/conceded (seller concession).