They are always out there, but they will never just fall into your lap, they must be actively found.If you find a good deal (relative to the current market) then buy it without too much worry about the market cycle, which are impossible to predict in the short term with any sort of accuracy as to when, where, and how much things may dip. 

Their accuracy is as good or better than any other lists I've purchased. 

For even more accuracy, we choose to only use comps that are 1/3 mile away or less, with sales dates within the last six months.Sometimes, even the street can make a difference in the value of a property.If the only comps you have are on very nice streets, but the house you’re considering is on a very “distressed” street, then you have to reduce the ARV.How much is an appropriate reduction is a judgment call on your part.You’ll want to base that call on how much of a discount will be necessary to entice the final owner/occupant to buy this property over one they can get on the “better” street.If the comparable sale that you are using is too different from the subject property, then it is of little value.If you use it in your sales marketing, you’ll lose credibility with your Investor Buyers.An example of a poor comparable is when your subject property is an old cottage fixer-upper, and you compare it to the sale of a brand new in-fill (an in-fill is a new house built on a vacant lot in an otherwise established neighborhood).Rehab dollars vary according to level and detail of the job – everyone has a different formula.As a wholesaler, we suggest a middle-of-the-road approach for estimating enough rehab dollars to get the subject property to look like the comps.You’ll need to spend more on rehab as the ARV increases.Logically,buyers like more ‘pretty-ness’, higher-end fixtures, cabinets, etc. when they’re paying $200,000 vs. when they’re only paying $100,000 for a house.Buy/Sell/Hold costs are all of the costs associated with:üThe purchase (loan origination fees, title insurance, attorney fees, survey, appraisals, etc);üThe sale (real estate agent commissions, marketing and advertising, closing costs paid by the Seller); and üHolding the property (mortgage interest, utilities, taxes, insurance, etc.).

My favorite tools in order of accuracy of the data:MLSRedfinMy favorite tool that is a must have:ExperienceHonestly, I havnt used zillow or trulia all that much, so I wont comment on those.  

Christopher Perschke I would recommend speaking to an experienced property manager to give you rental comps on that property, Zillow is great from a macro view of a market, but loses accuracy when you get down individual properties.

You need to be willing to work your tail off consistently and you also need to learn how to evaluate a property with the same accuracy as a real estate appraiser and estimate repairs extremely accurately.

I can talk about my market with high accuracy.

For your next contractor hire - ALWAYS make sure they are licensed and bonded ....and CHECK their accuracy - don't just take a lic # from them and assume it is good.  

I would want to see the proof of what you are saying”Almost immediately, we received another email, this time from Charles Sells, one of the principles of PIP Group, with an obviously angry tone: “The claims and clearly one-sided liberal views (of your article) stink of a clear lack of any sort of accuracy related to the industry and certainly that of PIP.

I'd encourage you to skip these "rules of thumb" and use one of the rental calculator spreadsheets available that will give you a more complete picture, and allow you to compare properties on an apples-to-apples basis with far more accuracy then the rent-to-value ratio or other simple metrics.