Within the MAI education program we are taught to support, research, and verify all data within the report.In practice, that doesn't always happen and we all make mistakes (or get lazy)A stabilized multifamily appraisal should be pretty straight forward with market rents, market expenses, and market derived cap rates.  

The numbers you gave are derived from?

An IRA is not taxed on passive income such as that derived from rentals, just as it is not taxed when it receives dividends from a stock.  

Profits mentioned would be derived from a rehab flip, though at time of sale, it will be right around the 12 month mark.

In the manipulation of benchmarks such as the interbank borrowing rate these banks were essentially messing with the cost of borrowing of upwards of $450 trillion in loans and derivatives worldwide.

I managed a derivatives based hedge fund for 20 years (retired now).

I my opinion a bubble is derived when only irrational behavior is left to push the market higher.Median home value is increasing as the cost to build new has skyrocketed since resources are harder to come by.

Seasoning is relevant when you want to use an ARV-derived value for the loan amount, i.e. cash-out above your costs due to the value-add achieved.

I'm curious to know if anyone has actually tested the program and what value they have derived from their experience. 

Where did you derive $60,700 loan amount from?