I’d give cash flow priority and treat appreciation as upside, not as the figure that rescues the deal. But define “net” carefully: include a vacancy allowance, management cost even if you initially self-manage, maintenance reserves, insurance and property tax.
For student housing, have you...
I would avoid giving the seller a long itemised argument for €474,900. That can sound like you are prosecuting the property, and they may dispute every line. A short rationale plus evidence that you can proceed is enough. I’d also make the deadline practical rather than using a 24-hour...