But this is the bread and butter of what I do in Detroit.Pay cash, do the renovations, then refi out.As you mentioned, you need to be confident in your comps so you can put an accurate ARV on the project before you pull the trigger. 

However, you are able to depreciate the building and its’ components.The land value is utilized in a cost segregation study and it is crucial that it is accurate so that it does not result in incorrect depreciation calculations which would open you up to the risk of an audit if it was overstated or you would miss out on tax savings if it was understated.So, we now understand the importance of the land value, but how do we calculate it?

@Jake Baker right, if you have clean accurate books this is it, but may also lower you CPA fees. 

But I will say that Cody's stuff I am sure is accurate and its how you would go about tying up dirt and who to work with etc etc.. the issue is they are making it sound like 10 hours a week will make you millions.. 

The 2 houses are being sold together on the same lot for 1 price and they are calling it a 5b/3b (which isn’t quite accurate since that makes up both houses-it’s really a 3/2 and a 2/1).  

If the cost to flip and the ARV estimated you provided are accurate, this would be better as a flip.

@Trevor Riley someone who is putting in CONSISTENT work, communicating weekly, not overwhelming themselves by trying to BD for too many different investors, and knows how to accurately run their numbers. 

It won't be 100% accurate, but it will be close enough.

Accurate description of most Toledo PM's

I'm new to real estate investing and have been looking to buy my first property for the past 3-4 weeksI have roughly 120k (not all of that I would like to use) to put towards an initial investmentI found a property that I would like to get for 325k that is in ROUGH shape, basically every room and property needs a lot of TLC.I'm getting a 2nd GC to come and look at it but I'm estimating anywhere from 75k-100k in rehab costs to really get it updated.It's a 4/2 with the potential to be a 4/3 or even 5/3 with some creativity of the attic space. 2750sqft with a beautiful pool area and big backyard in Central FL, 15 min from Disney.The girl that has the property wholesale is saying the ARV could be anywhere 550k-600k but honestly, I don't see that number being accurate looking at comps around within a mile or two, and I really need an expert evaluation on this deal but don't know who to go to.I would love someone who has experience doing BRRRR or fix and flips to look at this property/deal and be able to say "this is a no go" or "you have plenty of margin to make this profitable"Any help would be super appreciated!