You have heard this saying from savy investors..."you make the profit when you buy"...What is a "fair" price for an investment property? Some say "this % above the asking CAP"...others say "the lowest price at which the Seller will sell"...and, other investors say the fair price for an investment property is "the price at which a buyer will buy and an owner will sell on a given day in an arms length transaction." What is your definition of a "fair" price for the investment property you acquire?