If I'm looking at a property that has 3+ comps that are identical, DOM are short, desirable school district, nice location etc. etc. then I might increase my ARV to the higher end of the range and reduce my holding period (thereby reducing my holding cost).

Condos are very easy to comp because there are many identical units.  

Denver expanded outwards and the houses in north Aurora and essentially identical to the ones in Wheat Ridge.

I purchased my townhome as my primary residence over one year ago at 85k and identical units are selling for anywhere between$120 - $160k.

Since both properties are exactly identical in term of number of units, parking spaces, gross incomes, expenses and so on, I am combining the specs so to provide a less complicated picture.

I purchased the first lot which is on a corner for 7k, two lots over there is a seller asking for 18k for his, the lots aren't identical in size.

Keep in mind, it's really not tenant screening...just a credit and background check (as well as identity verification).

I'd pump the brakes a little at that price and amount of repairs needed.There are several duplex's on my MLS with identical numbers that sellers can't seem to unload.By time you factor in Vacancies, Tenant Turnover expenses, Maintenance, and Capital improvements your returns are going to take a pretty good hit.Demand seems to be the big issue with Duplex's in my area.

Know your rights to protect your identity.

Made me feel good though as he is asking for 100 more than me for an identical place.