Throw in that many first time home buyers are also the ones who could get hit the hardest with the potential increases in health insurance, rising taxes and property insurance. 

I got it off market place overall it was in better condition then alot of the ones i took a look at.

I got it off market place overall it was in better condition then alot of the ones i took a look at.

It really depends on the condition of the property and whether the investor is truly improving it or just adding markup.

I recommend documenting the reasons for your increase and ensuring that it reflects current market conditions. 

Concerns such as the home value decreasing, 24/7 humming noise, increase water bills, increase electric bills and other environmental concerns in regards to health. 

Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

I first review the sales and/or rent comps, next I review the property condition or get an estimated rehab budget, then I review any other costs such as eviction or liens, and finally I set myself a max offer price.

A bit like having a health coach sit in on your doctor's appointment to ask the questions you might not have thought to ask.

I also received a letter from the county saying that my property is in violation of several health and safety codes.