We bought the SFR for $186,766 via the Internet with only footage and Google Maps.

I am very tired of the extra large families living in this unit, and am concerned that it will be an ongoing problem, with a large unit.  3/2 and 4/2 in our area with similar square footage are going for $1850 - 2500.

Things I would look at are square footage, how much updating is necessary, how much off street parking is there?

PROFESSIONAL ADVICE; BROKER LIABILITY: Broker advises Buyer and Seller to verify Property condition, square footage, and all other facts and representations made pursuant to this Contract and to consult appropriateprofessionals for legal, tax, environmental, and other specialized advice concerning matters affecting the Propertyand the transaction contemplated by this Contract.

Roughly what square footage of home and price point are you talking about?  

$/square foot and square footage is lower, so purchase price and repair costs are lower.

MattHi There Matt,Good to see you on BP.I've done a lot of these BRRR's or refi's for clients and myself and yes appraisers tend to be very very conservative on refinances.Reason being, on purchases, a new contract signed between buyer and seller assuming no distress is considered "market value," so appraisers are able to stretch an appraisal around 10-15% in some cases when conducting appraisals on purchases.This is a stark difference from refinances where they go out to the market and generally look at:- comps with 1/4 quarter mile (1/2, 3/4, and 1 full mile if no comps within 1/4, 1/2, etc distances)- most recent sold properties are used only and pending sales (not completed yet) is given 2nd class consideration- consideration is given to properties of the same title size, lot size, square footage, condition of the property and otherI've often seen that upgrades and rehabs dont always give you the adjustment you (as in buyers) often want so when judging if you should do the work to improve the property its important to look at "value," through the lense of an appraiser.I've spent 80k before and got 100k more in appraisal and at the same time I've also spent 65k and got 30k.

Given the square footage (10k+) I can safely say that my intended 4 units is extremely modest.

I checked Zillow's tax records and it shows 1,100 sq ft, which seems like it might be the square footage of the home not including the garage, once the garage becomes part of the home, it's probably closer to 1,400 sq ft.

Be sure to have pertinent information (number of units, bedrooms, bathrooms, square footage, etc).