Market Value used in preparing loan docs

[Account Closed]

It seems that there might be some confusion as to how to fill out financial information when requesting a loan. How would you value your rental property real estate in the real estate schedule section? I know how I do it, but I'm curious how others do it.

It is very clear in the instructions that market value is to be used for the valuation. Does it make a difference if you recently bought a property that was perhaps below market? Does it make a difference if the property was bought 20-30 years ago.

My portfolio has been purchased over a considerable amount of time and I suspect others run into this as well. I would love to hear your thoughts.