I like your view point that there isn't a right way to do business, that each needs to figure there own way.  

I would figure 6 months carry cost (cost to carry the property while it is vacant).

Examples:44109 (median home price went from roughly 50k to 125k in 8 years)https://www.zillow.com/home-values/77009/cleveland-oh-44109/ 44102 (median home price went from roughly 30k to 120k in 8 years)https://www.zillow.com/home-values/77002/cleveland-oh-44102/ 44106 (median home price went from roughly 100k to 200k in 8 years)https://www.zillow.com/home-values/77006/cleveland-oh-44106/ It has the highest rents on average in all of Ohio for major cities and the median home value is not even in the top 3.

Calling the appraiser to see what you can do to push it up a "C-Level" would be smart before doing any reno also, might only need a few things to make it far more valuable in the eyes of the bank.I've heard of a tactic for figuring out demand, which is to put up a dummy or coming soon listing on facebook marketplace and see the amount of activity you get on it. 

I know they won't say what the client's Coverage D policy states, but I'm sure with the right kinds of questions you could get enough info to figure out how much they might go up to.

Keep in mind it's still new so the industry is trying to figure it out. 2.

Lots of people on here want to knock concepts like the one you are asking about, but in my experience most of those people haven't even worked through those kinds of companies or bought properties, so focus on the ones who actually have (if you can figure out who that is). 

If you buy in such a city, you are almost guaranteed to have limited appreciation and rent growth.If a city has significant and sustained population growth, then the current housing supply will be insufficient and prices will rise until the demand (the number of people willing and able to buy) roughly equals supply.Rental rates are closely tied to property prices.

Also title to figure out if the land can even be used for a particular purpose.But to answer your question regarding value, a decent metric is the current tax assessed value of the parcel:https://sdat.dat.maryland.gov/RealProperty/Pages/default.asp...Or you could pay for a broker price opinion..

I'm relatively new to the real estate game with three properties with roughly one year of equity.