I think James brought up a good point about factoring ALL expenses and not just mortgage when assessing a possible rental property.

Local agencies often miss out-of-state information and those three (Transunion, Experian, and Equifax) are generally considered the most comprehensive and accurate.You don't have to go through them directly, though, many third parties pull their reports.

The MLS is the best way for an appraiser to assess the interior condition of a property....driving by comp.s is not a requirement."

@Abdul Azeez, I think that the problem is that you are stacking the deck against yourself trying to do all of these things on your first deal:1) Purchasing the property from an online auction site / bank, which is notoriously tricky even for the experienced investor, due to their proprietary contracts and minimal due diligence period and strict deadlines.2) Working with a new contractor that you haven't used before, or seen their work before, and who may not be used to dealing with investors.3) Trying to get conventional financing on a property that has a short closing time and where the mechanical systems cannot be tested.4) Working on your first deal by yourself instead of partnering with a local investor who can guide you along, or at least a mentor who you can turn to with questions.My advice is to make it easier on yourself by considering buying a property with a standard contract and longer due diligence period, network with local investors who can provide you contractor contacts and also some guidance, and consider using private financing or hard money instead of bank financing.In my opinion, buying from the online auction sites is a more advanced strategy that you can use once you are able to ballpark construction costs yourself and/or you have a trusted contractor you've worked with before and/or you have private financing or hard money set up so you can close fast and/or you can purchase the property without interior access and hope to get lucky in terms of condition (but still buy at a price where you are comfortable doing a full rehab if necessary without losing much money) and/or you are familiar with agreement of sale contracts and closings in your state so you can assess the risks of using the bank's seller-friendly contract.You're already doing the right things by asking questions on this forum, and taking action.  

This is to ensure that any subsequent investment decision is made dispassionately and without any biases regarding your impression of the property.I would hire a qualified appraiser to assess the condition of the property and rely on financial due diligence and investment analysis when making my decision.All the best!

Before you set it up I would advise assessing your own resources (time, capital, skills) that you can provide to the partnership and anticipate what you think an ideal partner would also bring.  

Also ask if any special assessments are pending.

I know that he is right as she is probably baiting us to make a mistake but why she is dragging out the eviction when she isn't living there is just beyond comprehension to me.She's now compiled an eviction on her record, her boyfriends and her 18 year old son....seems counter productive given that we offered a workout several times in a way that wouldn't leave an eviction on their record.Rick

Everyone there stuck around for the last property, which was a 1900 sq ft  home, built in 2004, assessed at $210k in a nice neighborhood, at auction due to unpaid HOA fees.  

Ankit Patel You may want to add an expense for assessments.