They rely on the historical data to formulate their opinion of value.

At the risk of being a tax practitioner on this thread correcting someone...you're actually supposed to report number of days the property was rented at fair market value on Schedule E.Software will examine the fair market rented (FMR) days and the relationship of the FMR days to the personal use days for treatment under Sec 280A (which involves personal use of rentals and properties rented less than 15 days).The tax treatment for a property available to rent 365 days during the tax year but rented 0 days is much different than a property rented at fair market rates for 365 days.

Hello, I'm thinking of approaching some probate attorneys to build meaningful relationships and partnerships with them to eventually wholesale their clients' properties and make it more seamless of a process.I'm young and don't have that much experience in the probate world and wanted to throw this out of the BP community. 

Depending on your credit score and relationship with the lender, you can avoid closing costs on the HELOC.

Your best approach especially when starting out for calculating rehab expenses is form a relationship with a Contractor..

@Joe CasizHere’s some sources for market researchZillow and Redfin for historical sales dataDriving the neighborhoods and attending open houses The US census for income and employment data etcMunicipal website for list of employers

Banks are usually the most difficult to work with in these situations and you have to have a relationship, some history doing deals with the bank, or perhaps in some cases a deal that is so good a portfolio lending bank would go for it. 

Especially if they have had a preexisting relationship from that buyer. 

@Lena Claybon - I agree with the other posts about JV or finding private capital, but will also offer another option that may or may not work for your situation.Not sure how close you are with your GC/contractors, but if you have a good relationship, you can have them agree to payment terms where they receive payment after each check-in draw with your lender (so I would assume a week or two later than typically expected). 

Maybe because he’s your brother and you don’t know how he will take it, or you think it might spoil the relationship you have with him — I can empathize with you.