At that point, my job is to contact every person who has expressed even a passing interest in the property and see if they want to beat the offer I have in hand.To increase your chances of winning, make the highest and best offer and eliminate as many conditions as you can. 

It's a reference and a data point, but it is a pixel and not a picture.Condition is also a major factor; we get typically 200 to 300 more than calculated, because the condition is nicer than average and people are willing to pay for that.PM's are often a bit on the low conservative side, understandably, they don't want to overpromise, also it makes it a bit harder to find a great tenant.Size is another major factor; tenants are very much shopping for square footage.

IF the property is in great condition he adds 10%.  

(I’d look into the illegal inlaw legalization first, because you may be able to grandfather in some existing conditions, making life easier.) 

we had planned to do health, safety and welfare items upfront and other repairs as cash flow became available.

Plumber who fixed the leak says very possible the leak happened prior to the inspection, based on the condition of the floor and the rust on the pipe.Trying to figure out what next steps should be.

All purchased in 2014.We mostly spent funds (and budgeted for that) on purchase to get them in good condition.  

The property was in excellent condition.

No rentals in my area offer washer dryer hook ups or air conditioning.

.$400I build in Prop Management just to be conservative but I'm going to manage the property until I get to the 5 property mark.Now the bad/unknown.Each unit has an individual furnace but they are all 25 yrs old.The exterior stucco needs patching & painting.The roof is stated to be in good condition, but I think its got to be 15 yrs old.I'm trying to research how this property might appreciate in value over the years.