Let me rephrase this, for all those who think that your profession is what dictates how much you learn after graduation, and would argue that you don't learn more after graduation than during, I say get off your high horse.If you think that, you are doing yourself a disservice, and you'll never know why.  

Make yourself believe that you are only buying yourself time....adapt to what you must do now so that you can act decisively and without regret when the time comes....but in the end you know what must be done......It's all a question of Value.....and no human being should let anyone else; much less a corporation dictate how much he or she is worth.

@Ken Parmelee I believe the your strategy and goals dictate the method your method of structure and what type of capital stack you will use.  

The price of a property is dictated by the market primarily, and only secondly by the buyer and seller.

If the buyer defaults, the seller has multiple remedies:a) Sue for the balance -- the seller can get a money judgement and garnish wagesb) Sue to terminate the contract and extinguish the buyer's interest (similar to quiet title)c) Sue for specific performance (foreclosure) but the period of redemption is determined by the court (minimum 7 working days)d) Strict foreclosuree) Accept deed in-lieuThe allowable methods are dictated by the terms of the contract.

It is good if you do what you are supposed to do, but most Property Manager's don't do what they are supposed to do, because they have different owners dictating to them what they want done instead of the other way around. 

FYI - There are NO rules that dictate or suggest which comps or type of comps an appraiser "must" use, from anyone, including FNMA, FHLMC, FHA, etc.

But you may have other financial concerns that might dictate something else.

Areas are not undervalued normally, the market dictates price.

Market value is dictated by area, park, condition, etc.