We weren't able to get into the property initially so we gathered on the front steps and talked a little about the group and did some introductions since we had MORE NEW MEMBERS!!!

So it sounds like for initial valuation--for instance, to see if it's even worth it to go look at a house--you do something like the 50% rule, and then when you're ready to purchase you do your due diligence and find more accurate values (what you should expect to see once you own the property).

This way, the initial cost comes out of their pocket and they can use the survey with other buyers if your deal falls thru.

In any way I could be of assistance and also begin and initiate my baby steps into the realm of real estate, I'd be more than happy to.

We initially got a PLOC through Hawaii State Federal Credit union to pay down some principal to have enough equity to be able to get the HELOC.

I suspect he made his initial investment back in a few months rent.  

How should I tackle this at initial stage??

Don't go too low initially --> base your price changes on your "day on the market" number.2 evictions doesn't sound great.

In AZ if you had a mortgage with less than a $200k balance; the interest, property taxes, and state income tax could be lower than the standard deduction(2015 is $12,600), assuming you are married- unless you give A LOT of money to charity.  In

The house has a bedroom which was initially converted from garage to bedroom.