@Shamus QuirkThis is not an apples to applies comparison.

This home is my only bad apple I own in my entire SFR portfolio. 

Dang iphone, meant to say "own property", not "own probably!"

I may be comparing apples to oranges to bannas as note investing has a commercial property aspect that multi family residential does not.

Now if that house had an amazing view, backyard  etc. that made it stand out that is different but I am doing an apples to apples comparison.The 185,000 house the buyers would want to get for 170,000 because when they go through all that headache of moving and fixing the place up they want additional equity for their labor and time in addition to the raw materials costs to fix the place up.This key piece of information is generally lost on the sellers.I would get 2 or more additional estimates of the 6,200 to see if someone can do the same scope of work for a better price.

Personally while I use cap rates to compare apples to apples.

But we're in a more expensive market, so I think a more apples to apples comparison may be a property that rents for 600/unit and costs about 80K.

Check out David Lerner and his Apple REIT for all the gory details on how these sponsors fleece poor retirees out of their hard earned savings.

I've developed the only note buying software for the iPhone and I give it away for FREE.

I did constantly check homes for sale and values on my iPhone, but that was recreational, too.