Usually, appraisers in every niche (e.g. multifamily 20 units or below) are following similar methodologies/trends.

There are a lot of people out there that advise against out of state REI (especially for a first-time investor), however, I don't agree with that methodology completely although they make valid arguments. 

Count me in the group that feels like it's not necessary to fall behind any one methodology.

Check the lease, the tenant app. and methodology for screening. 

Hello BP! Just wondering, what are some ways ya'll do market analysis. Sites? Calculators? RSS Feeds? Looking for information like:PopulationCrime rateSchool caliberMajor industriesBeyond that, anything else we should...

Sam, it's hard to know the details from the outside, as far as who's paying for the appraisal, choosing the appraiser, actually (boots on the ground) doing it, whether that person is an employee or independent contractor, etc.Also you don't know if RI Housing resells that loan on a secondary market (I don't think they do but I really don't know to be honest), or if the money that funds the program you're applying under, comes with conditions RI Housing has to fulfill, etc.It comes down to the old "he [or she] who has the gold, makes the rules".I don't think it's useful for you to spend time second guessing Rhode Island housing's motives or methodology re: the appraisal or deal.

Do you mind sharing your methodology?

If the number is too high, you renegotiate the purchase price or you change your exit strategy.BP has a good book on the methodology for estimating rehab costs (I'm the author):http://www.biggerpockets.com/flippingbook

@David McBrayer Very impressed on a very organized construction methodology.

Not everyone agreed, but the methodology by which we reached our decisions was essentially the same.Take-home message: This is actually something Sean shared with the group two weeks ago, "When you walk into a home you should have the mindset of 'would I live in this space or what would I change to make me want to live here' rather than a mindset of 'what do I need to do to make money'"Action Items Some members of the group have partnered up and are working on deals!