For this we obtain multiple bids, compare and make recommendations, coordinate the efforts, oversee the actual work on site (periodically checking progress, documenting with photos, making decisions and change orders when necessary), inspecting and documenting the finished job, reviewing punch list items and authorizing final payment.OTOH, if you are talking about a LARGE project, or development type work...I have no idea!

I have recently acquired a tool that will help me to quickly find information about properties all over the country including foreclosures and preforeclosures, tax assessment values, last sale date, current owner, condition, comparative analysis, etc.

Title insurance is cheap compared to what's at risk.

RE is not a market with great liquidity or with substitution (1 house is not exactly the same as another compared to 100 shares in a company being the same as 100 shares of the same company).You do need to know your market and you do need to adjust to local conditions as they change.RE prices do not fall all that rapidly.

Other comparable rentals.

That's the difference between living in the overbuilt hinterland of Eagle's Point, as compared to world class theatre and gorgeous parks in Ashland.

Have a realtor provide recent comparables (both on market and recently sold) based upon FMV/ARV.

. $5B a month in buying capacity is at the higher end compared to most of the bottom feeders. 10% of Countrywide was sold for $2B and they actually make money on their loan book.Under 5% of the mortgages are in default.

That said see what he will really take and compare that to what Fair Market Value would be.

What you need to do is educate yourself.To answer your question, yes where you are, your market and the deal itself all matter for the type of investing you want to do.In a college town, you are going to be renting to students and not alot of flipping as the number of buyers is low compared to renters, so you can see, it really does matter.The type of loan they have as well as available equity in a property might tell you if it is a sub2 deal.