Yes, the market can change, and factoring in any significant market changes in the applicable time period would be a good idea, but recent past data is the best insight into future performance.

You could use this formula to determine what price you should use to counteroffer (if necessary):BPO = CMV - BHS Fees - Profit BPO = Best Possible OfferBHS Fees: Buy/Hold/Sell Fees Profit = How much you want to make...To determine CMV, seek out comparable sales data from the previous 6 months for similar properties within a 1/2 to 1 mile radius of the subject property.Regards,Scott Miller

I would like to delve into researching extremely driven and successful businessmen, both inside and outside of the real estate world.

It seems there are only good things, you have access to sales data, you learn a lot through the courses, and if you can hook up with a broker you can even capture commissions on certain deals such as working wtih REOs, etc.Someone suggested having my wife become the realtor instead of me, since I will be the primary investor.

IE , property can't be driven to well ,so it needs a new gravel driveway...you spend $2,500 out of pocket, which will be reembursed in 2 months.

I have no data to back up my opinion), I'll bet you would find that many who have made their fortunes in RE made it from appreciation, not cash flow.I'd love to hear thoughts on this and hopefully I qualified my comments enough to indicate that I don't believe on betting strictly on appreciation, especially if you can't support the property that you are buying with your reserves.

The MLS is filled with errors, and as an appraiser, I constantly have to check and recheck all of my data sources, especially the local MLS.

In other words, it was derived from data rather than deterministic logic.

There are a dozen questions in addition to the normal application data that need to be address upfront.

I like QB Pro because it's "scalable" - in other words, you might have two props now, but if you get a few more and decide QB pro is the way to go, then you've got to move all that data over.