The current deal I am evaluating looks like this:2 X 4 family units next door to each otherAsking price $289,000 eachOffer $250,000 eachRent is currently $550/month resulting in a conservative cash flow of NEGATIVE $4,500/monthUnits are out of date but in good shape.

I don't have the time to rehab and flip/hold (although I would enjoy the learning experience), so I'm here to become the investors go-to guy for evaluating and presenting properties.I'll be looking around for evaluation techniques, as well as estimating a wide variety of rehab repairs (roofs, baths, kitchens, floors, appliances, etc...).I would also be open to local investment clubs to meet like minded members.Thanks for your service!

It's very unique and I like the creativity, although I would have two concerns: 1) it requires two steps and most people don't follow through on that from solicitations and 2) a lot of people might think the website on the postcard is loaded with viruses.That being said, it wouldn't be a bad system to test and see if you get good results.

Evaluating other areas around Seattle (within driving distance) could be a good route (as others here have suggested).Good luck!

I thought cap rate and GRM were important to evaluating 2-4 unit properties.

Free cell phones, diabetic test strips and mostly "we buy houses"... you don't buy houses, you buy trashy signs.

Something I use to evaluate rentals, that you will likely hear about hanging around here on BP:

Your best advice I believe and I would agree is to always consult an attorney when you are assessing your risk.You almost sound like an insurance agent, LOLThe only part I agree with that you mentioned is to see your attorney and that values may be different in different jurisdictions.I'd say the only ones on this site that can evaluate similar cases would be attorneys, certainly no layperson can make such an evaluation.When I had my insurance brokerage I also did finance work and estate planning with an attorney (who later became a judge) I did valuations for him for loss of work, loss of an eye, arm, leg which are pretty well statistically set, not wild determinations.As I said, costs of defense are insured, the attorney gets paid.If you are exposed to 50M in losses, insure for 60M.If you are under insured, you have a loss and your assets, like you said could be liquidated, but not all your assets, some assets are protected in BK.

Enough so that I would try studying on my own and taking the test. my understanding is that a:CR is residential contractor and allow for homes and up to a triplex(not to exceed 2 stories)CB building contractor can do residential and commercial up to 3 storiesCG general can do it allYou are absolutely correct that I need experience, and that is part of the plan.

Condos are good for evaluating purchase, sale and rental prices/rates because there are similar ones to compare.