I'm not sure about how old anything else is but it has been remodeled twice before my landlord bought it.I want to give him a fair and reasonable offer on the property.

If a home is fresh and fairly priced, waiting could mean losing it to a better-prepared buyer.Bottom line: The market is giving buyers breathing room, but not bargains.

You can expect cash flow to be about 5% of equity, so if you want to quit your W2 you need a fair amount of equity.Equity is hard to come by.

I am not sure if I could find another deal in time for a 1031 exchange as bargains are few and far between.What are the thoughts on this? 

The end resulting price is then no bargain - so I've yet to buy anything at auction.

Does this blended incentive idea seem fair/reasonable given my limited experience, or would you just take the flat deal bonus to get started?

I’ve noticed pricing can vary widely depending on the loan type, performance, and collateral.
For experienced note investors — how do you approach valuation?

Hi folks,I'm in the home stretch of picking up a (very) expensive California Fair Plan (CFP) policy to get fire coverage for a 4 Plex since State Farm has dropped me.My questions is - CFP seems to classify 4 units or less as a "Dwelling" policy and 5 units or more as "Commercial", but they also seem to say that "Business owned" properties are Commercial. 

Keep in mind, if they have poor or no credit, there’s very little leverage beyond the eviction process itself.Even though you might feel like you’re getting a bargain—the seller probably factored in the hassle of removing the tenant.

My guess is that the original poster has a super-bargain deal and is reluctant to go back to and attempt to out the risk back upon the seller.