On the inheritance tax side, however, I believe the formula take account of the fair market value --- even when sold at a judicial sale. 

Hi Ryan,Here is how I calculate the reserves for these smaller multifamily deals (I own three 4plexes):Essentially, I determine the remaining life of the major items, like HVAC, water heaters, roofs, siding, etc.

If the private money lender requires a credit pull, the credit inquiry could show up on the purchase-lender's side.

I'm in the Midwest in a hot area.

The current owner is definitely losing money with new roof, siding, cabinets, refinished floors, paint, etc.

Purchase price: $263,000 Cash invested: $15,000 Duplex.Living in for a year then moving forward to another investment.Renting the other side currently for $1450 How did you find this deal and how did you negotiate it?

The other side hustles you mention are great additional streams of income... if you are passionate about them.

So definitely value on both sides.

Not nessacarily more, but better in the sense that if I saw 10-15 of those types of properties then I think we'd find a winner.On the other side (higher end, equity market) I have seen a few data points of price drops in a suburb of Des Moines that have been pretty substantial. 

It shows dedication to the industry vs a Realtor who may be doing it as a side gig.