Looking for mentors and opportunities to learn how to evaluate real estate deals.

., pressure test rent assumptions, look at market absorption and new construction, evaluate capital stack etc.).

Once you know your numbers, then you can evaluate different strategies, etc. 

I have two consecutive years of appraisals from state licensed professionals that show 100k increase in property values after the 40k in contractor receipts during that year which cross out only half the list given from the state licensed inspector 2) accept the 590k evaluation.

I tried to evaluate pros and cons of both options.

Regarding if you should DIY manage or hire a PMC:Many new investors read a couple of posts and then think self-managing their rental property, and avoiding PMC charges, is an easy way to boost their ROI.The reality, is that many of these investors really haven’t taken the time to properly understand what it takes to properly manage a rental property and the corresponding tenants.Here’s a list of some of the requirements to properly manage a rental property:Knowledge of all local municipality, state and federal landlord requirementsIntimate knowledge of all Fair Housing statutesUnderstand all federal privacy laws, as they’ll be handling social security numbers and IDsProper business insurance in the event their computer is hacked and or they improperly dispose of tenant data.Where to advertise their rental, other than ZillowWriting ads compliant with Fair Housing statutesCreating a process to accept calls/texts and schedule prospects to show their rentalA rental application and application fees that meet all local and state requirementsKnowing how to screen applicants to avoid professional tenants and the growing amount of fraudulent dataA lease compliant with all local, state & federal lawsUnderstanding local and state requirements regarding security deposit collection and holdingRent acceptance options for tenants and accounting system to track, including late fees, etc.Plans to handle nonpayment of rent issuesKnowledge of their local eviction laws or access to an attorney familiar with evictionsHow to accept, track and respond to tenant maintenance issuesBuilding a list of handymen and contractors for maintenance and turns between tenantsExpertise at evaluating tenant damages to charge against security deposit when tenants move outResearching local utility requirements to avoid suspension of services that could lead to frozen pipes or flooded basements, etc.

And if you really thought it was a dangerous tree you might want to get something to prove it before it falls down (evaluation from a tree company, etc) and send it to them certified to the address on record with the county for the owners.  

Thank you for your insights and for pointing me to resources that should be reviewed so I can build a model in Excel to evaluate this decision. 

It is important to conduct comprehensive research beyond Zillow; you may want to hire a professional home inspector to evaluate the property's state and repair requirements, as this information will affect your offer.

Sometimes, these deals may lack the margins necessary for a prudent investment.If you ever need assistance evaluating deals to determine their suitability for your investment goals, I'm more than willing to offer my expertise.