Prices a few years ago were based on expectations of (in addition to interest rates staying low): - Then current operating cost assumptions (like insurance cost expectations being flat)- A seeming disregard for record levels of new inventory / supply hitting the market- Extremely high inbound migration expectations which are likely to not be met, due to both natural disasters and the boomerang effect when people from California or the Northeast move to the American South and hate every minute of the humidity, the large and relentless swarm of insects, and the occasional hurricane. 

In high-cost markets like Chicago, that can be tough to meet.If you're looking at a duplex, the self-sufficiency test doesn’t apply, so you’d just need to qualify based on your personal income and the rental income your lender allows.If your current lender isn’t familiar with making FHA work in your situation, it might be worth getting a second opinion from someone experienced with FHA multi-unit financing.

for water stuff - if it is not raining based on ur experience how else one can test that?

@Eric L ConryI would base it on your cash flow NEEDS, not wants.

Since you know what you need to buy it at and an average rehab cost, I would say $50-70k for a cosmetic flip, set the ARV based on the sample you choose and doing comps and ask them if they would invest in a deal similar to this. 

And I'd argue the average rents can be increased nearly 30% based on the current FMRs in the zip code.

I'm a licensed Realtor in Northeast Georgia and can shed some light based on my experience.Sponsoring Broker for Part-Time Realtors:Yes, in Georgia, you need to affiliate with a broker to activate your license after passing the licensing exam.

@Daniel Baker I would say a lot of it is based on their training or their resources that they utilize to complete your taxes.

He has made millions personally  Just like any other national guru who hit it just right has the Utah based fulfillment companies coordinating his marketing.

I was trying to appeal to the next generation with more app-based management rather than phone calls and emails.