Quote from @Dean Harris: @Mike SferaThis is a great question and one I get from our client base often here in Memphis, TN.

I do not personally use him based soley on the fact that the firm is virtual.

Although I find competition for what I call investment grade parks is quite keen.. so returns are more in the MF space.. when you venture out east from the west coast or look at low end parks returns are higher but management is quite intense.. as our dealing with some pretty scruffy tenant base.

I have ideas of the values, but nothing based on anything concrete.If I take out a construction loan, how do I pay for the construction loan during the process? 

On the surface, the deal seems appealing, but there's a catch: the asking price is $475,000, which is about 18% over the market value (based on comps and DealCheck estimates around $402,000).Details of the DealProperty: Duplex, 2,400 sq. ft., Purchase Price: $475,000 ($197.9/sq. ft.).Estimated Market Value: $402,000 ($168/sq. ft.).Financing Terms: 2% interest rate, with a 9-year balloon.Unit B Income: $2,049/month (Section 8 tenant through November 2025).Unit A Income Potential: Similar rent or higher; Section 8 cap for the area is $3,234/month.Monthly Loan Payment (P+I): $1,386.Cash Flow Breakdown (if both units are rented at $2,049/month):Gross Rent: $4,098/month.Vacancy (10%): $410/month.Operating Expenses (37.3%): $1,376/month.Net Cash Flow: $943/month.Key QuestionsWould you be comfortable paying an 18% premium for financing at 2%, especially in a market where current mortgage rates are closer to 7%?

I normally pick and choose the events I go to based on what will be discussed. 

Look at all of the costs and then all of the revenue and make a decision based on that. 

The company is based out of Sicklerville, NJ but also works in Philadelphia, where he was born and raised. 

When an appraiser is adjusting a comp to match the subject property, he or she will use an adjustment based on the difference in square footage.

Just some notes to consider based on what your unit is like.