I do generally agree with the sentiment of Austin and the other hosts that fundamentals will always win out in the long run, and this by nature is a long term industry, even the sales side I'm learning.  

What I usually see is that they start with the average $/sq.ft of the sales price in the area.

However, have you ever gone downtown to the steps near the capital and witnessed a Trustee sale? 

Check out recent sales in the area to get a sense of pricing and comps.

Last August a decent pre-foreclosure opportunity came available on the MLS and my agent took us to see the home and submitted two offers below asking that were too low for the seller at the time.Apparently the seller was able to avoid foreclosure and the home delisted after it didn’t sale.

Cash invested: $18,000 Sale price: $32,000 '69 trailer fix and flipNew flooring in kitchenAdded ACNew windowsAdded GarageNew interior panelsBathroom reno What made you interested in investing in this type of deal?

What is the current market valuation of the property based on comparable sales (defined as similar properties, within a 1-mile radius, within the last 30 to 180 days, that are within 10% of total square footage)? 

Many months of costly vacancy, local market rent & resale deteriation, special assessments, property taxes and maintanance fees suggest a quick sale would have been the wise thing to do 2 years ago.

Duplexes for sale starting at $585,000 with a 3.75% interest rate.

Purchase price: $341,000 Cash invested: $136,000 Sale price: $519,000 A house that I bought, renovated, and sold.