The house is in need of serious repairs and as it sits, my educated guess ( Based on property tax values of comps and the fact that the same architect built 3 similart homes and his neighbor sold his house a year ago for $2.8 Million) its worth $1.5 Million or so.

I'm also interested to know if these bigger houses would actually rent out well since there are some beat up 2300 sq ft+ houses for low prices (but again that goes back to the type of neighborhood I'd guess.

Hi Andre -Of the local wholesalers I've connected with, I've seen it all, but this tends to be what's most common in my experience from them:-Use a flat $25,000 for all properties-Take a completely uneducated and wild guess-Partner with a GC or good handyman to estimateI prefer when they use option 3 personally :)

My guess is some sort of municipal incinerator for trash?

Interest rates are pretty low right now still so I guess I have the option.

One of the properties is a 1 Br/1Ba that needs some improvement, there may be a moisture problem, it has a noticeable bug problem, last year there was a plumbing problem, yea...it needs some work.I am not sure about the classifications nor the current living environment of the other property, but my guess is it's 50/50 on similarity.The owner is offering my friend both properties for $150k with $5k down.

Guess I'll have to get 15k from 2 banks. oh well.

The rules are probably different everywhere I guess.

So I guess it's an owner occupied with a rental policy.

I guess what I’m asking is, have any new investors had problems getting HMLs because of your experience level?