I know I could try to low ball the offers but it seems pretty consistent in many areas.

Your additional suggestion of paying close attention to the economics in your target area is something that I hadn't fully considered, but now that I have, it will absolutely be a part of my analysis.Again, I really appreciate you helping to explain IRR and why it is important to make such a projection. 

I THINK this property will appreciate significantly with what is going on in the neighborhood, but even if it doesn't, I'm confident I can have it rented or sell with a low chance the value dipping below what I paid.I'm not trying to aggressively expand right now...

My husband are new to the game and have an opportunity to buy a neighbors house at a low cost.

I do think we can convert the top to a 3-1 for relatively low cost and charge more for it. 

The email sent requesting closing funds looked absolutely legit. 

You go too low and people begin to wonder “what’s wrong with the house?”

In the near future I will be using an FHA loan with a low down payment to purchase my first investment.

That mortgage has to be pretty low right now. 

In addition, we can lock a rate while they are still low for a very long time.My question: HELOC or mortgage?