In the end, the value of the deal comes down to a minimum, specific, monetary return, within a specific period of time.Here's an example:  I want all my cash back at refi on a rental$100,000              ARV in specific area based on Sales Comps$  80,000              75% ARV for refinancing$  75,000              Cost to buy/rehab$    5,000              Cash Out at Refi (bonus, bonus, bonus...)Here's another example: I want all my cash back at by the end of the first year on a rental$100,000                 ARV in specific area based on Sales Comps$ 80,000                  75% ARV for refinancing$ 85,000                  Cost to buy/rehab$      500/mo.           

We feel that they are trying to woo us by throwing this high offer at us (even knowing they were the only offer), and then planning on playing us when the appraisal came back probably a bit lower then our asking, their bank not lending them what they "want", and then expecting us to accept a lower number (essentially our asking price) from them because we will have been weeks into the process at that point and not want to go back on the market?

Having bonuses for contractors that get work done ahead of schedule, and bonuses when inspections come back without issues.  

It is just an added bonus- The property needs to cash flow when you purchase.

Buying land and constructing looks to be attractive play to me . if real estate corrects by 15-20% then all i am losing is the 15% profit margin assuming i have assessed things accurately . 

Have you ever played an RPG where you get to allocate talent/stat points?

Are non-recourse loans in play here? 

I know zoning, utilities on site, wooded/clear lot, location, ect. all plays a part in value but not sure where to start and I know tax assessors evaluations can be far off.I'm an open-minded kind of guy and even though this isn't necessarily what I targeted, if there's an opportunity..

My office is under the garage bonus room so I am undisturbed by my little kiddos during work time.

As for how much, if the potential lender has other investments (CD's, stocks, etc), I would try adding 2+ points of interest to what they're getting on best of those, and maybe a bonus or stake in the profits if/when you sell the property.