Value add ( do you want to do reno/raise rents), or stabilized (income producing, lower maintenance). 

mortgage How did you add value to the deal?

Incorporate what if you die, what if you or a partner want to sell how do you value, opening bank accounts, contract signing, etc.  

If your cost basis is more than your cash value, you could cash the policy out & just use the cash for other things.  

You could go either route but don't mix the two in concept as one is a mule and the other is a horse.And, the requirement that properties be listed for sale by a bank is a bank regulatory issue having nothing to do with the NAR, it ensures that the property is held for sale in a public market at its assumed fair market value.

However, since I am NOT an expert in everything I assign a value for how confident I am in each estimate and use that to generate a LOW and HIGH estimate value.

The Net Present Value of deferred taxes is a big value driver.

I like the West Mobile area, its class A area, you can definitely find deals there, 3 bedroom with 2 bathroom for around 220k or so, you may have to wait a couple of years for positive cash flow but properties there increasing in values better than others.

How did you add value to the deal?

We build something of high value, like a lead management to replace a spreadsheet, or an automated document merge/eSignature system for contracts or propsals.