I would like to run my numbers by you people who are much smarter and have more experience than I, so I don’t make a fool of myself.The property is 32 units at $500,000, all park owned homes, quoted cap 10/12%:Units: 32Stated Rent: $266 per unit - $102,144 Gross IncomeExpenses stated (2013): $40,266NOI: $56,206I have found several discrepancies in these numbers, deleted some and added or changed several such as property taxes, which were much higher than stated.My numbers are as follows:Gross Income- $102,144GOI: $92,951 – Average vacancy in area is 9%Expenses: $57,954NOI $34,997 – 7% capOffer price, as I was quoted 10.12% Cap: $350,000Will this make sense to the agent and owner as to how I arrived at this offer price?

I understand that they will look for any discrepency in your paper work and how you run the LLC (separate bank accounts, reimbursements, etc) but if everything is in order and you're running it properly, shouldn't the LLC do what it was intended to do and protect you personally?

It seems like there would be many opportunities to take some of the older condos/awkward layouts and have a fair amount of potential for flip profit but it seems that this is a far less popular choice.When you compare equivalent (size and relative location) condos from older buildings to new builds there is a MASSIVE price discrepency: many new builds starting at 300k in the core with older similar sized and neighborhood properties going for less than 200k (but very dated).

I would say your should be under my costs depending on finishes you select.Get at least 3 to 5 bids (Dont be surprised w the discrepancy lol)Let me know if you need any help.Best,Andresa

I am finding that a significant percentage of reports have discrepancies between the summary information provided and the actual documents recorded on title. 

If not, how do you resolve the discrepancy between what the short sale approval is giving permission for and what you're actually doing?

Whether the lender might be willing to accept a new appraisal, assuming you're willing to pay for it (or even with them eating the cost).But, in general, I would do everything I could ensure that I had all the comp data available for the area, and then I'd pick the ONE or TWO discrepancies or bad decisions you think the appraiser made, and contest those.

I suggest having a POA for your seller(s) along with a recorded deed to clear up any discrepancy.  

Last time it took him about a day to clean, touch-up paint, and clear up the move-out checklist discrepancies.

If the owner sent a letter with POA stating that a trustee will manage his property, the problem would be solved.You know, I'm pretty sure when the lender sends a tax payment, some of which must be direct deposit or wire these days, the name discrepancy doesn't matter.