So if my assumptions are correct, then I can apply similar guidelines for analyzing other turnkeys.

I worked my *** off to get through school and did not have ANY student loans when I left college.I will tell you with absolute certainty what I learned getting the finance minor and the masters has opened doors and helped me in ways I can't begin to list.For every success story in business who didn't go to or finish college you can list, I guarantee there are 100 more who ended up in menial jobs because their gamble didn't payoff.Remember, you asked for my thoughts...

@Bradley White, as @Joel said there are no carved in stone definitions but these are the rough guidelines that we use.

That is a rough guideline to look for value add potential, but any ideas where to look for properties around this mark?

Our agent called today and mentioned that there was already an offer in on the house and that the LA was friendly enough to offer a 15 inspection period (double the normal 7) and a $50 option.The way I view it is a $50 gamble before we call in the inspector.

I will definitely use these guidelines in evaluating future deals.

Betting your future on gambling is not the way to go.

The 70% LTV that they want you to be at probably means the current lender who did the loan mistakenly on the wrong terms realizes that they cannot sell it directly to unload this loan and make a profit but now has to service/hold the loan for 12+ months and wait till the market increases or you pay down the principal to the point where the LTV is 70% of the market value (after 12 months per guidelines) so that now the terms conform to Fannie Mae standards and they can finally unload this puppy back to FNMA and get it off their books.The 70% LTV requirement is usually when you have 5-10 financed properties for 3-4 unit residential or if you bought the triplex with cash and did a cash out refinance (delayed financing exception) within 6 months of the cash purchase.They could either unload the loan to the "scratch and dent," market where they may get cents on the dollar and will probably lose a ton more money or absorb the cost to refinance you by paying all your closing costs and interest for the next month so you can skip a payment and keeping your rate the same.It tells me that they are saying Hey its cheaper for us to do this and it benefits you too, give us a 2nd try please?

Appreciation plays are speculations and a speculation is just a hop and a skip from a gamble.

Agents who specialize in selling policies often sell less to their underwriters, and the rates suffer as a result.But if you have an established relationship with an agent (meaning you've had your business with them for some time) and you suddenly get a big rate increase without any claims during the preceding year, it's probably because the insurer changed its guidelines.