Such a LIVELY discuss what investor can resist tossing his hat in this ring...For many of the reasons already stated I would add that when you survey locally and nationally the REAL real estate investors (people who actually own & invest in it daily versus those who simply talk about or teach it) it is those who have a portfolio of rentals property of some sorts that have withstood the test of time.Obviously all markets aren't suited for the buy and hold strategy but with the ease of investing in other markets and countries now, you can't soundly refute the strategy.

Was the survey only to include the total attendees at this convention? 

Then account for all the not-to-code homegrown maintenance  ... this will give you an idea what the property is really worth as it presently operates.Then figure out what your intended use will look like and what revenue it will generate (based on a survey of comparable product in the local rental market).  

Which would be $2,500.Then there are, according to fha.com:• Lender's origination fee• Deposit verification fees• Attorney's fees• The appraisal fee and any inspection fees• Lender's origination fee• Cost of title insurance and title examination• Document preparation (by a third party)• Property survey• Credit reports (actual costs)• Transfer stamps, recording fees, and taxes• Test and certification fees• Home inspection fees up to $200"Allowed in an FHA refinance loan are wire transfer fees, courier fees, reconveyance fees, and fees to payoff bills."

Your property may be in a flood zone/area but be at a higher spot elevation that takes it out of that area, only a spot elevation survey can determine that. :)

He's going to try to talk to Chicago Title's underwriting attorney and cite some case law to see if we can get it removed from our owner's policy to bypass the survey science project we'd need to notice folks.

CBRE publishes a cap rate survey report.

I also recently sent an owners update to all our owners, after surveying 5 other large management companies. 

Survey?

I understand it is important to obtain record of survey when you purchase properties.