If the property is in a "cookie cutter" community you can use the recent sales of similar homes in the neighborhood.

Looks like Gustav may be Katrina part II right after it shuts down the Gulf oil rigs.

I recently took the advice someone posted on my forum, and joined the RIG in my city.

Most big banks are really only interested in cookie cutter mortgages that they can resell.

It's newer to me, and I'd be diversifying away from the HOA/cookie cutter style rentals that we currently  deal in. 1) In a quick survey of the two areas they seemed FILLED with for sale properties so is it right now a buyer's market there?

Also old crumbling sewer pipes, watch out for "jerry rigged" electrical too.) 

Commercial property investing is not the cookie cutter residential investing you refer to.Potential profits are much larger, deals much riskier, losses can be much more severe.

If you are looking in a cookie cutter addition where every house is basically the same and all of the houses are within a few years of each other finding the market value is simple you just look at what identical properties have sold for over the past 12-24 months.Moving out of the predictable additions makes the process a little more difficult however if you are looking in areas where a majority of the the homes are being bought by owner occupants the process is still relatively simple.  

http://www.nbcnews.com/news/us-news/massachusetts-house-sale-was-rigged-explode-police-say-n329601I'm pretty sure who ever owns that house Wins the worst tenant award.Question of the day Would that make You quit being a landlord ?

No institutional HM will, but private money will.That used to be my cookie cutter.