For example, hey partner we were going to sell for X and now we need to sell for Y (lower than expected), are you good if we drop the price?

If you’re open to exploring different markets, Memphis has been a solid cash-flow area for new investors and now is a great time to jump in because we are in somewhat of a market freeze where sellers are more negotiable to get rid of properties but lots of buyers are holding waiting for interest rates to drop.

I’m trying to figure out how realistic this idea is before I start talking to lenders — hoping some of you who’ve been through this can help me sanity-check it.Here’s my current situation:The PropertyLocated in California’s Central ValleyBought a few years ago from my dad for $30K (clear title)Current estimated value: around $293,500 (Zillow)Rents: $1,000 (front) + $800 (back) = $1,800/moNo mortgage, completely paid off ✅It’s been a basic rental that covers itself and stays occupied.Now that it’s appreciated quite a bit, I’m wondering if I can use it to fund my next step in real estate.What I’ve Gathered So FarI was laid off a while ago, so I don’t have W-2 income anymore — but I do have savings in the bank and this property free and clear.While researching options, I came across DSCR or “no-income verification” loans, where the lender qualifies the loan based mostly on the property’s rent and value instead of personal income.If I pulled out around $200K (roughly 70% of what the home’s worth), the monthly payment for principal and interest might fall in the $1,400–$1,500 range.Once I add property taxes and insurance, the total monthly cost would probably be close to $1,700.Since the property currently rents for about $1,800 a month total, it would basically break even or maybe make a small positive.That seems to qualify under the DSCR rules I’ve read about, but I’m not sure if that’s too thin to be worth the risk — especially with rates where they are right now.If this type of loan actually works the way I think it does, it could free up roughly $200K in cash that I could use as down payments or rehab funds to buy additional rentals.I just don’t know if that’s a smart move, or if I’m misunderstanding how flexible these loans really are.What I’m Trying to Figure OutDoes this make sense in today’s market, or would you hold the equity and wait for rates to drop?

Tennessee-based realtor with Compass, Sam Gray, told Daily Mail that vacancy rates in Nashville have risen to around 10.6 percent, which is the highest they've been in over a decade.

Not when we have had expense increase of roughly 30-50% over recent years in aggregate. 7% is a drop in the bucket so to speak. 

Great to find nice used artwork at these places.Although do not ignore Goodwill for basic stuff like dishware, glassware, counter appliances, etc.....You'd be amazed at what people drop off there when they're moving in a hurry.

The current loan balance is $299,000, while its value, based on Zillow, is between $415,000 and $425,000.

I have definitely seen a drop-off in wholesaling activity in the area. 

Rates are dropping quick right now.

Just an update- I wrote an email to the sellers explaining the same details I found and requested for a 100k credit/price drop (1 year worth of rent from the 3 tenants and lawyer fees) and they countered back 75k and I took it and moving on with the deal.