Seems all that is required is to attach a statement to your return indicating that you elect to aggregrate pursuant to reg xyz.It looks like all RE Professionals should be prepared for an audit.

But knowledge of local conditions is a much better indicator than an appraisal, since appraisals are easily manipulated by simply choosing different comps.

I do not use big renovation companies, but rather, rely on individual contractors who I've established a relationship with over the years.

For what it's worth here are my observations.........1- 80% of the information on investing in real estate being sold ranges from totally worthless to incorrect and or possibly illegal2- another 10% might work under some circumstances but either the recipient of the information needs a much more educated and experienced background than he is led to believe or the circumstances regarding the success of the method being sold are limited to a certain geographical area or a certain type of market3- the 10% of information that has value requires work, dedication, persistence, education to be used successfully.4- Certain types of individuals can self study utilizing free information available online and learn as much or more as any program or course will teach them5- most gurus are not currently successful using the methods they teach; they may have once been successful in a particular type of market or in a particular location, but they are not currently utilizing the method they teach successfully.

I know some may give flak jumping to the conspiracy theory tag lines, but there is just a hand full of individuals who control a vast swath of our economic flow, and things have moved in very odd ways, ways in which they could only move thru manipulation.

Sometimes bank statements may indicate gambling problems or other traits you might not like in a tenant.

At the moment, 58% RE, 22% Cash and 20% Equities.Equities are maybe 50% mutual funds, the rest individual stocks.I like steady dividend plays like MO, PM, KO, SJI, O etc, but will go out on a limb for riskier bets, like F in the 4's ;>).Was in and out of AAPL several times the past few weeks for some quick gains.Cash position is a little on the low side due to a recent RE purchase.

I think the growing demographic of older Americans, empty nesters and other individuals and couples would be thrilled to not have to rent, share space, or pay larger utility bills and maintain a space larger than needed.

Check out this new BP thread... maybe Chris C. can indicate if the bank was a large (B OF A type) or small bank.

Generally speaking, the price of an REO is not indicative of it's actual value, and isn't even related to its value until it's sold.