I asked if broker price opinions could be substituted for appraisals as so avoid spending $1200-$1400 in appraisals.

In the event of default, typically a professional foreclosure trustee company is substituted in to process the foreclosure for the lender.

Nothing can ever substitute experience.

In fact, the audiobook version that went along with that book at the time I found even more impactful if you leave out the bond structuring he talks about and instead substitute property or other cash flowing investments.

@Leon Lee, You can do a substitution of 1031 intermediaries in the middle of an exchange. 

One guy wanted $50/board, not including material, the other wanted $35/board not including material.The moral is there is no substitute for bringing contractors on site and getting bids.  

I feel secure because I retained the right to sell my interest in the note and the buyer reserved the right to substitute collateral. 

if i might say, there is no substitute for an actual contractors viewpoint on this. 

@Austin Powell find a good agent, a calculator is no substitute for knowledge of a specific area and actual comps to try to predict ARV.

Internet research, spreadsheets and data analytics certainly have their place, but there is no substitute for the mental/time equity of thoroughly interviewing and vetting investor-friendly realtors, property managers and contractors.