First (potential) deal, and finding a trustworthy out-of-state appraiser

[Jonathan H.]

Hello guys,

Ive been looking at this property out of state for a couple of weeks now. Numbers may work but it depends on financing.

8 units.
425 each unit low vacancy for the past 5 years.
179K
Factored in taxes, mngt comp, insurances etc and its seems decent so far.

What Im worried about is that its been on the market since 2007 and dropped from $220K.
This worries me but I dont know why.

Anyways, I will not be visiting that state for another 4-5 weeks so I was wondering if its worth sending an appraiser before I go?
The reason I ask is because I wouldnt even know what to really look at other than the basic condition of the building.

If I do send an appraiser, how do I pick one?

This worries me a bit because a few months ago, my brother purchased an old-folks-home and had it appraised by someone. He later found out it was the previous owners brother in law that he hired to do the appraisal!!!

Anyways, lots of questions here just hoping a few of you can help me out.

all the best