Current thinking is:a) 70% rule, for immediate resale scenariob) BRRRR, Build and hold as rental scenario Thanks in advance for any suggestions!

Finally, even with a substantial discount, the house may not be worth it.

I can tell you from my experience it is worth it all though.  

Areas near downtown Ventura or the college (Ventura College) are worth exploring for strong tenant demand.

This has been well worth it compared to the 40+ hours I was previously spending doing this myself come tax prep time.

It was worth it to just separate out every listing on its own, but if the price keeps going up, we will have to reassess.

Rates are a bit higher but if you can leverage up to do more than 1 flip at a time, it will be worth paying the lender fees.

I also think most markets won't see anywhere close 6% cap rates (for single family homes which is what I personally invest in).The questions you get to ask are then:Is the extra 4% worth the hassle of management and lack of liquidity.   

I know pricing tools can be frustrating, but they might be worth another shot.

The home appraised for 1.2M, the deal is anything the home sales for over 1M after the fix up he will split with me minus my costs. he will hold the home while I do the renovations, no home purchase necessary.My question is how do I find the ARV on a high end home so I know if this is worth pursuing?