Roofstock is selling Turnkey properties so all the value add has already been extracted by the person selling.

Then taking care of it.Just to be clear for posterity, the floor isn't meaningfully compromised and the rail has a little give.

Then add in how the lender is going to require the appraiser look at it, and the "meaningful" data becomes more scarce yet.

@Andreas Mirza I'm a big believer in IRR as a metric, but it's only meaningful over at least a medium-term (multi-year) time frame. 

We encourage everyone to bring meaningful dialogue and content to the forums at BiggerPockets and not make empty posts simply as an exercise of building brand or planting keywords.

Is there a meaningful difference between the two in terms of $/SF?

But that will not help you either tax tax-wise or in court. and I have seen plenty of well written articles on the folly of thinking an out-of-state LLC will help you in any meaningful way. you're taxed in the state of the property.

What I find is two things: 1) due to low refi appraisals it is very difficult to extract all of the value 2) After the refinance after the value add, the cash flow is virtually the same as it was at purchase. 

Here's why...Each deal will have different requirements depending on where it is because, that particular market will tell you what you need to do, to extract the maximum value for that area.

It has not cut out the meaningful calls, just the ones that were on the questional to not my responsible range.