Jose,Here is a list of "hidden costs" that may surprise you if you haven't been through this before:Closing costs when you purchase the propertyTitle Insurance Policies for you (and the lender if there is one)Miscellaneous closing fee's (survey, recording, etc)Loan origination feesHolding costs (during the time that you own the property)Builders risk and Liability insurance policy premiumsProperty taxesHOA feesUtility usage chargesBuilding permit costsDumpster / hauling chargesLoan interestClosing costs when you sell the propertyStaging (if applicable)Realtors feeClosing costs (depending on where the property is, this could be a huge cost) Professional fees for accounting, legal and taxesCapital gains tax on your profitI hope this helps you, and good luck!

But the auction company says the seller won't reduce the price at all.Given that I had already spent around $1000 on preliminary title and survey,  I offered to get full survey and title work done to prove to seller (although it seemed like they already knew b/c 3 deals on this same property had fallen through previously), provided that the seller would agree to pay for it if we couldn't agree on a price reduction after that. 

Unfortunately the title report and survey show an easement that will prevent this. 

(See American Housing Survey Reveals Rise in Doubled-Up Households During Recession and For Many Families, Bad Times Require 'Doubling Up'.)And there was also a fear about jobs/income and credit.

Had considered maybe a yearly tenant survey that, if returned, gets them a $10 gift card to coffee or something.

Other $585.70 $100.00 01 Broker Fee to Weichert Realtors $1,000.00 $0.00 02Commission Listing Agent to Meyer & Meyer Realty $1,500.00 $0.00 03 Commission Selling Agent to Weichert Realtors $134.65 04Final Utility Billing to City of Wilmington $350.00 05 Survey to East Coast Survey legal $1.84 06Tax Balance NCC to New Castle Countyaccurate as of 9/12 $135.70 07Title - Owner's Title Insurance to Ward & Taylor, LLC I.

This will give the buyer time to order an appraisal, have prelim title work done, building inspection, survey (if needed), check with the city/county to make sure it can be used for their business, etc...

If you don't feel this is correct, you could always get it surveyed to verify.  

A "simple" split in my county costs about $5000 (most of which is for surveying and plats) and takes around 4 months to complete - so not bad.

And this is a survey of locks, not closings, so the folks promising the world but unable to deliver artificially drag that line down a bit.)