In 95% of cases they will not go below that counter until the home has been on the market over 60 days or they lower the price.

Everyone knows it, since the city has invested in both river front improvements and it's the closest east side zip to downtown hipster activity (6th Street, etc).Frankly, the whole east side is in transition from what was highly ethnic/lower income in years past to a vibrant, "hot" address for techies, DINKs, singles and those urbanites who want to be near the arts, jobs and "scene" that Austin is famous for.

By staying put the mortgage would be lower on my current home versus a larger home thus allowing me to maybe get another property quicker.Thoughts?

He wants 40,000 for his home he purchased a year ago & put a few thousand into but doesn't know how to market it & the property value in his area is a bit lower than that but also has more astounding properties than his?

If you go the commercial broker route I recommend pursuing your CCIM designation (http://www.ccim.com/about-ccim) which will include learning to do the same type of investment analysis as is taught in the RE MBA classes, but for a much lower cost.

If much lower value, you might be able to avoid probate altogether and merely filing an affidavit of small estate.

A low offer is simply an offer lower than the asking price , usually much lower .

I'm not sure using the 50% rule for such low rents is appropriate since there is a lower limit on what repairs costs and these rents won't go as far.

If this property does not appreciate or reassess lower, you could pay almost 3 times the value of the house in property taxes alone/ 30 yrs.

In some lower income areas the amount of rent you can get from section 8 is higher than most none section 8 tenants can comfortably pay, so you may be able to charge $550-$600/unit.