That appraisal seems incredibly low but hopefully you knew the comps prior to purchase. 

Second inspection takes place 45-60 days prior to the current lease ending.

We have since refinanced the property into an LLC which we are both equal partners but i'm wondering if there is a way for us both to take advantage of the tax incentives prior to the property going into the LLC.Thanks in advance for your input! 

If you have a good agent/broker in my opinion let them handle the code of ethics while you just make as much money as possible.I don’t want to do both but I was an agent prior to investor so I’m already here. 

That's where it's listed as nonexistent for the prior 3 years and $2 and some change for this year.

All with a few points.Describe your circumstances and I can't overemphasize this part, tell the loan originator everything about the deal you're doing; where the money for down payment is coming from, if you're related in any way to the seller, how long you've been doing this, if you have any prior experience etc... 

However, before I do that, for free to the applicant I do a check on my states criminal courts website, and contact their prior/current landlord, and employer for a reference.

Does the entity have to be formed prior to the sale of the asset or will it qualify as long as it's formed and the property purchase is completed within 180 day?

Prior to moving to Columbus in 2008, I consisting visited my county court house every afternoon (I worked across the street ) to review the days foreclosure filings.

One tool is to look at historical data and determine prior market highs as an historical indicator of what prices in a given community have reached in order to make a determination of likely price returns to those levels.