However, since I am NOT an expert in everything I assign a value for how confident I am in each estimate and use that to generate a LOW and HIGH estimate value.

Thank you I have presented a 40-60 offer to him now to see if we can get the house at the bottom dollar we would like I for but I am putting a lot of trust in him on the price and feel that we may be offering so low that I seller will not bite 

But that is far from the point of this post.) first they’ll confirm your $1,000/mo “market rent” isn’t a) BS or b) still too low.

@Travis Smock A cost segregation study could benefit your 6-unit property by accelerating depreciation, even on a lower-value property like yours, especially with low land value.

I've had low returns but in general all have made money.

Had an exceptional outcome.All in at $450,000 and the appraised value of the property is $875,000 on the low end.

However, we typically use the FHA-203k loan because it involves a renovation, which I highly recommend if you are looking to really boost your equity and have the cost of the renovation wrapped into your loan with a VERY LOW AMOUNT OUT OF POCKET.I like the FHA loan, but honestly, the Fannie May Home Style is an even better product at this point because you just have to bring a bit more cash to the table 5% vs. 3.5% (w/ FHA), but you have a bit more flexibility.  

I guess I was looking at this as a low-cost of entry type of property that could provide some cashflow.

Which is its a low cap rate deal, you might need to put 40% down in order to meet the banks DSCR loan covenant. 

You need comparable sales BEFORE you spend $175 or the appraisal will come low to your expectations.