Even in the Big Apple!

I think that can work IF you manually double check the comparable sales that come up, to make sure you really are comparing "apples to apples" (similar beds & baths, similar sq footage, same style of house, same neighborhood, sold within the last 6 months, etc.)I think that works for him because he's done his own comps for years (using MLS), but for a beginner I would say some caution is warranted - don't just take the "Zestimate" at face value and go from there.

People line up for the newest iPhone, but there's never a line at the gas station for a $30 burner.  

If you calculate the CAP rate on one 20-unit building and include interest charges as an operating expense and I calculate the CAP rate on the 20-unit building across the street but do not include interest as an operating expense - we are not comparing apples to apples.

The rest of the units turned in the next couple of months and the bad apples were out.

Apples and oranges.

I'm sure this will be easier when I upgrade to the larger screen iPhone.

Also, listen to the podcasts...they are worth their weight in gold (probably even the weight of your Iphone).Best of luck, and never be afraid to ask any questions at all, you would be amazed at the connections and informations that are waiting just across the keyboard from you on this site.  

You need to compare apples to apples.

Your real estate dealings are not the type of business that your customers can walk away from without related problems, they can walk away from buying apples from you but they can't walk away from a lease.