I keep seeing properties on MLS and similar sites in my area of Wichita KS where the asking price is 15-20% higher than what the local appraisal values the property.For instance , if the physical property has a value of 100k , but the asking price is 120k, does the the fact that there are existing leases in places warrant a 20% markup in the asking price?

For instance minimum stay settings is simple on HA.

For instance, here in Berwyn I have a 9 unit building where the boiler has given me a lot of issues.

Also, do you typically give your number out to the neighbors of where you have your home for such instances? 

@Brian Legg there are so many strategies that its hard to say what to do in your instance. 

(Last comment here- Florida is a hardest hit state- many of the funds from TARP that were not used for modification are now made available for down payment assistance in some instances. 

So for instance a dollar store being offered for $1,000,000 at a 6 cap NNN is paying $60k per year. 

In an instance like this, how do you decide if the property is a good deal?

You might consider combining lists for your initial campaign - for instance use both Absentee Owners with Equity and Seniors with 20+ Year Ownership – maybe even combine these with Financially Distressed.

For instance, I have a client who uses their HELOC on their personal residence to purchase income property with ROI's higher than the interest rate on their HELOC, which keeps them in the green.