And, if I (an appraiser) decide I need to use comps in a different area, I should analyze the area and see if any location adjustments are necessary (i.e. are those comps in a more desirable area/location, etc,).

This is helpful once I narrow down to a desired market.Thank you!

If I am going to hold and rent, 3 beds in our market get about $300 more per unit, and are desirable in there aren't enough of them.If you're gonna hold and refi, I would make it a 3 bed.I may be just looking at it from a multifamily perspective.Let me know what you end up doing.

It also may be a question of which format is more desirable for the market and associated demographics.  

Hi - this may be a weird question, but I was in a mastermind and explaining how I do not have the time or desire to drive for dollars. 

Trying to time the market is a fool's errand and besides you might not like what is on the market three years from now. if something matches your needs and desires perfectly  and you're ready to go - go. 

If it is a refinance, we would look to pay off any current mortgages, finance the closing costs, get some cash-out if desired, and fund the rehab. 

It is worth mentioning that my journey into real estate commenced without any formal education in the field; rather, I relied predominantly on extensive research and avidly consumed the invaluable insights shared through the Biggerpockets podcast.With each venture, my interest in real estate investment continues to grow, fostering a profound desire to acquire more properties.

A newbie or a person who is more risk averse could feel more comfortable investing in this type of a project than a deep value add or a project in a less desirable area.  

My desire is to find some AirBNB properties in my area so friends and family have somewhere to go when they visit, and I can rent them out when family isn't around.