I was going through realty track and noticed a lot of REO's listed value or estimated market value is above the nearby sales prices.What does this information reflects? 

Going to have to look at the nearby houses. 

Planning on no money down 15yr loan at 6%This deal passes the standard rules of thumb: 2%, 50%, 70% It fits my strategy of not wanting a bunch of debt long-term  (I could pay this off pretty quick)I have some other(3-4bedroom) houses nearby that stay occupied.  

I was looking at a place on Lake Wisconsin, but was worried about the lack of nearby grocery stores and restaurants. 

Also it will show you near by recently sold for as well as neighbor houses estimates as well.

I would convert it to a duplex.pre-listed on zillow "make me move" for $419,000 back in August 2013. tax records show owner has not changed but the title was last updated Feb. 2013The mailing address on record is in florida so I'm thinking this person refinanced, then went to retire and is inactively trying to sell.I found this property when I was out walking around so I'm familiar with the area and the price seems fair based on my recent purchase nearby.

Regarding the main project discussed in this thread, there actually are different outcomes possible. iFunding's CEO, William Skelley, will be onsite next week to perform visits on all the nearby properties.

Looking for a city that will appricate ( so is currently undervalued ), has a vast pool of renters ( universities or military bases nearby are great ), most (70-80%) can afford the rents on my properties, has low vacancy rates, has a low end that I can get into 10-40k a property, etc...Thanks for the advice and support so far :)

I've attached a few more as nearby alternatives in VA.

The comp value (based on nearby sales) is $160-$170 for all three.6.