If I was in the position it sounds like you're in I would do this.1) Lower the offer to 35K seller financed and she is no longer responsible for the taxes.

The Key is finding big property issues up front, negotiating lower purchase pricing and taking care of any differed maintenance up front.

A better idea even may be to talk to one of the hard money brokers at the meeting, they will borrow at a little lower rate say 10% they then lend the money at 12% and 2 points this is their profit you get the original agreed to amount.

I'd happily lower the sales price to avoid any predatory lending.

-Hedge funds leaving Vegas-New/higher home prices combined with lower rental rates causing lower CAP rates and cashflow-The 80,000+ homeowners that are in default-The spike in NOD's being filed (Las Vegas is currently the 2nd leading city for NOD's being filed.These are just a few of the factors our local market is currently facing.

Even worse, in fact, because there is zero barrier to entry.

I'd think prices would be higher in Cali, rents probably with the price but the barrier to entry to acquiring may be higher.

Many investors buy and work with a lower cash flow just for the appreciation and tax benefits, accelerate payoffs for future rents or to sell.

When we finally sold 15 months later, comps supported a much lower price.

I know that's a risky thing to do, since I can't drive by and see the property, but investing locally with a lower return is also pretty risky, I figure.