I could be wrong, but it looks like maybe the former owner or some worker did this on purpose, or by accident, because the two holes are almost identical in size, and the rest of the board looks fine.

4 Two bedrooms, one bath No less than $400/mo, identical units in next building are going for $475.

A nearly identical house, literally across the street, recently sold for $52,000.

That said, it is possible to make adjustments on the sales comparison approach from data extracted from the income approach and the reverse holds true as well.As an example, let's say there weren't enough data to show what buyers would be willing to pay for a 3 car garage house versus a 2 car garage house (in this example assume everything else is identical).

We have two identical 2/1 condos, each with a 50k purchase price, where each rents for $750/month.

Sure there is some identity theft out there - hence the attempt at identity protection occurs.

Unfortunately, we have our credit reports locked/frozen so it won't verify our identity without removing the freeze and we aren't sure how long that is going to take.  

Do you have to keep copying and pasting identical content?

I mean, if the cash flow is identical, you could get into four 50,000 properties for 200,000 but it would take 400,000 to acquire four 100,000 properties, for the same cash flow.Am I missing something here?

Certainly a comp that matches the subject property identically in size and bed/bath combos does not count if it is 15 miles away and closed a year ago.My advice (in addition to learning how appraisals are done) is to learn your market in and out including knowing what each variety of homes and their combinations sell for.