Some people would define that as $400K-$600K and others would define it as $140K-$160K.  

@Sal Zizzo  Define "fishy expenses".

Account ClosedWe as a nation are definately in uncharted waters with this tragedy. 

For comparison, here are my numbers from postcards sent last month to targeted and filtered absentee owners in the Sacramento market: Postcards sent: 3713Total calls: 23Leads (defined as anyone with a house they want to sell): 20Lead rate: 0.54%Cost/lead: $72.40Now, most of those leads aren't much good.

Who are you defining expenses and who keeps track?  

@Lucas AmuchasteguiThe best defense in my opinion is defined criteria that is standard across the board.

I agree each property will have components of different age, but doesn't their estimate assume the best case of brand new components with a full remaining life?

Most of the time they are also licensed and would be able to help you appreciate if whatever the opportunity is a good value. 5) A LOT of these TK providers sell OLD properties which will need a lot of major components replaced if your inspection doesn't reveal the replacement of those systems "sometimes you can win betting on borrowed time" 

Don't skip this step, as it is critical for banking, obtaining loans, and for defining the terms under which you and your partner dissolve in the case of a disagreement. 

I factor in the age of the components when I'm writing my offers.