I am looking to do my first deal in the same fashion!

He gets back to me with a "discounted" bid from his internal architect and engineer of $2 sqft to get everything done.

Rotarian for 12+ years and love international projects and helping out in my local community.

Rotarian for 12+ years and love international projects and helping out in my local community.

Through market data I can't see internal or structural issues so considering the homes in this area are older that may be the culprit for the price inconsistency.

Unless you can provide your private lender with secured double digit returns, I agree with most, your dad may have to do this on his own, or simply have you intern with him on this deal. 

Just last week an alumni stopped by who is working on a 80 million dollar international real estate development project of his own where he got funding through investment firms.

Cash on cash, internal rate of return etc?

Joe's brother-in-law buying Joe's house at a short sale would be a huge red flag for fraud.I think the biggest arrow in your quiver is #1, and your most probable path to success is to order a fresh appraisal with a fresh opinion of value, and once it comes back go to your (or the end-lender's) appraisal department (not the AMC, the lender's internal folks) and argue that the new appraisal is more credible than the previous one because of #1 ("if the appraiser didn't even go to the comps for a quick drive-by photo, who knows what else he didn't even actually do?")

Paint companies put together their popular colors or what they forecast for that year as trending in fashion and based on "Region" but there is a reason the chip wall and fan decks are so all encompassing.