@Karen RittenhouseHi Karen -- I found this thread and thought I would see how High Point may have evolved in the last couple of years.

I want to find out the progression of how BiggerPockets evolved from the very beginning to where they are now through their stories and interviews in the podcast.

I wouldn't spend more for a better species hardwood, say maple or cherry over oak. 

You need to be very careful dealing with these folks who have notice of foreclosures, they are a protected specie and you'd better know the laws.

My short term plan (which is constantly evolving as I learn) is to either flip or BRRR some houses starting out, then use that capital to boost my purchasing power on some multifamily properties.  

Keep evolving that mindset.

Getting a bit abstract but you get it.Here's what Wells Fargo says:"While our assistance options related to COVID-19 continue to evolve, weare currently offering the following short-term relief for a period ofthree months:* Payment suspension for 3 months* No Reporting of Late Payments to Credit Reporting Agencies* Late Charge SuppressionIf you need payment assistance, due to COVID-19 and would like the 3month payment suspension, sign on to online banking and select thepayment assistance alert on your mortgage account.

I'll be curious to see if you evolve your process at some point.

Account Closed I agree the system is dated and will need to evolve rapidly or perish but not because of illegal or immoral dealings.Here on planet earth Real Estate Commission rules to not give one the advantage of insider trading or bank robbery.

you state as given "3bd/2ba, $178,100, 1314 sq ft, built 1952, taxes ~$2k, no HOA, bank owned"Using an arbitrary GRM of 10, ignoring the neighborhood FMR, the rents ought to be about 178.1k / 10 = 17.8k/yr or 1,483/mo - - in the ballpark w/Wess.Depreciation is a paper-acnt number and not generally within the PnL - - so NO, I don't use it in evaluations - - neither do I try to guess property appreciations or increases in rents year-over-year - - if it's not good day-1, it will evolve into another life form.Two conditions you WILL need to account for:  Vacancy ~8-12 % and (Reserves/CapEx) ~10%Most use the 50% rule for expenses (which is all inclusive), but I'm tracking in the 30% range myself.