I have been investing in real estate in my local market for 10+ years (flips, private lending, rentals). I am currently in the process of selling my portfolio of 13 rental units spread across four properties. In CT, n...

ARV based on an appraisal or DSCR with 12 months.

Again, this is based on my own experience, so others might disagree. 1.

To get strong suburban core with a good B to A location typical is 2 million and up in price.

If you are brand new, drive around and make notes of just a few properties that might be looking to sell based on their upkeep.

@Shane Pearlman, did they say directly that the highest and best use of the property would be to subdivide into 3 lots and that their valuation was based on that?

@Joshua Thompson already linked the long post that I wrote to answer your question:https://www.biggerpockets.com/forums/51/topics/1215989-expla...Based on your subsequent comments, you missed the point of my post: it DOES NOT matter whether your accountant holds a CPA or an EA designation (or neither of those two).

Here is an article that discusses it somewhat. https://www.parealtors.org/blog/appraisal-changes-coming-for...So, some finished spaces are not not counted as part of the GLA based on a standard, which is fine.

It sounds like there is some scale in the deal for a fix and flip, but you would surely be way out ahead of your skis to do that based on what you said.

I'm based in Tampa, happy to connect with you.