Hi @Joseph Post, How did the evaluation go with the property?

If it's a long term buy and hold it's not a huge deal as long as it produces enough cash flow to be worth it.I would pay a couple hundred dollars for a structural engineering report and take a reputable mason to evaluate it as well. 

I think you'd have to evaluate your own situation and make that determination. 

I'm evaluating a number of different multifamily properties for purchase that are 100% occupied but with month-to-month leases. 

I’ll evaluate a property myself and compare with the BP calculators to make sure my math is correct.

@Jeremy Roberts if there is a housing crash, and the value of your home drops 20%, the bank will re-evaluate your HELOC, I can assure you of that.

However you need to recognize that is only 1 metric out of many ways to evaluate a property.

I’ll double back and re-evaluate something at $229k ARV and $1250/unit rent.  

When evaluating a multi where the existing tenants' rents are way below market, so I use them to run the numbers it should I use market rents?

That's why it is so interesting to get peoples' opinions on these kinds of stats.I know we can't evaluate their specific results without knowing more about the numbers that go into the calculation, but I was more interested in peoples' opinions on the general conclusions and what people think of the markets that are supposedly overvalued.