Any perspective on which end high or low is more accurate?

@Jason Jones  If your calculation is accurate, you would lose $35k in taxes and penalty just by withdrawing from your 401k, before you make any money from the investment.

The challenge we are facing is that the normal starting point of an accurate ARV to calculate MAO is really in question. 

Correct, I use real estate agents for rough numbers as they are less expensive, obviously not as accurate but good enough for his purposes..

It's gamble that's worth it at the price they've bought it at.

James Bynum - I don't know why you would be "raising red flags" by advertising your home with its accurate square footage.

They are just one source of information and it may not be accurate or may not even apply to you, your personality/skills/abilities, and particular goals.  

Selling one (to repay hard money), and then live in the other while collecting rent from the other tenants.Is that an accurate assumption?

The boundaries of a neighborhood can be larger streets, tracks, parks, etc.A house as close as possible in features (beds, baths), size, etc.Using the same financing method, with an arms-length transaction.Once you've found the right comps, then you have to make adjustments to them based on all of those features to get an accurate value for your property.I used to use a spreadsheet for that, until I built this tool: www.reikit.com/compsThe tool uses Zillow data for lookups, but usually I go in with my own set of comps from my realtors then use the tool for adjustments.The hard part is getting the comps, though, and MLS is always going to be king.Cheers!

I think the sentiment behind Steve's idea is accurate, even if his actual statement about it is not really quite.