Hi Svetlana,There are rules governing the methods used to determine what is called in Appraiser land FMV - Fair Market Value.Appraisers have to follow the procedures in their manual USPAP (Uniform Standards of Professional Appraisal Practices) normally this leads to FMV being determined on appraisals of property sold in the past 6 months.

So, buyer would get two homes for practically the price of one. 

The guest defrauds us $200.What are best practices on this?  

So it's good practice to get them in touch with one another.  

I would look at the Bigger Pockets files and download a couple of different spreadsheets to practice.

Oh trust me @Doug Crenshaw I definitely know about lending. ( I actually have my lenders license here in California, I don't practice it)I think I figured it out in terms on lowering my DTI, just seeing if other banks or lenders count the rental income higher than the 75% of the rent. 

At the same time, it is practical and useful information unlike the pre-licensing and exam topics.I got my license as a "just in case" qualification and have not represented buyers or sellers in any transactions.

Hello All,I'm currently in the process of closing on my first deal and my lender is simultaneously working on the refinancing right after the hard money loan.

Community appreciates rooting out bad practicers.

Appreciate the advice on the financing, we are going to talk to lenders and family/partners as our next step and simultaneously running numbers again to squeeze this as much as possible before making a final decision.