It comes down to how each county handles property tax valuation.To put it in generic terms - a title company & lender will base your initial mortgage payment on the property taxes of the previous owner.  

You can use a SQ FT format to guess rehab but that is only good to initially look at a deal.

Should I stick with my partners for the initial flips or go the hard money route?

@Mario Morales, to echo Bradley, I would say this depends on what you are lacking in your own knowledge base.To some (probably many investors) the agent is simply an initial filter for them.  

When you hear something you don't understand - ask questions and ask people to explain their thoughts, haha, especially if you hear something that you initially don't agree with.

I have been learning how the process works and there are a lot of resources for how to interview a sponsor and review the deal, but how do you initially access the deals to review?

My duplex - built 1989, 2,060 sf, 2 bed/bath, 1 year old roof, value if I subdivide (county already approved) and sell each separately $150k each ($300k total)Investor duplex - built 1995, 2,300 sf, 2 bed/bath, 5 year old roof, value around $310kThe investors initial request was for an equal trade and they would pay realtor fees, which I replied wouldn't be equal due to buying/selling costs (recording fees, title insurance, closing fee, survey, inspections, loan fees, 1031 fees, accountant fees, repairs), taxes would increase due to new sale price, I'd trade a 3.75% mortgage for a higher one, and I'm on the 10th year of a 30 year loan so resetting that to a new loan would restart amortization and pay more towards interest.

OpportunitiesAffordability: Compared to many West Coast markets, Albuquerque properties often come at a more affordable price point, making it possible for investors to get started without a massive initial capital.Rental Demand: Due to the presence of UNM and other educational institutions, there's a consistent demand for rental properties, especially those close to campuses.Cultural Appeal: With its rich Native American and Hispanic heritage, Albuquerque offers cultural festivals, markets, and historical sites.

That means they have hauled in over $2.6MM just in initial setup fees.

They require 48-72 hours notice to schedule anything onsite so we've been waiting 2 weeks now for a Section 8 initial inspection date to be scheduled by them.