Look at the age compared to there useful life and cost to replace.

I have not paid retail for RE in many years and would not in my high cost market (average SFH is ~$1m).  

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

I prefer to stay further from the coast and hopefully further from major storm/flooding events (potentially lower insurance costs).  

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Wish you the best.If I was you, first step is evaluating costs associated with doing MTR and comparing with potential rental income to see if it makes sense to do LTR or MTR.

They offer SFRs across the country (1031 eligible) that are fully triple net lease - meaning there's no costs to the homeowner, no vacancy liability, no unexpected repairs and maintenance, NOTHING.

The home appraised for 1.2M, the deal is anything the home sales for over 1M after the fix up he will split with me minus my costs. he will hold the home while I do the renovations, no home purchase necessary.My question is how do I find the ARV on a high end home so I know if this is worth pursuing? 

I looking to take action Can anyone help with some questions I haveWill this property cost me to much down the road?

Or maybe the units aren't equal and one rents for $2800 covering most of the cost of living there.