If you know what you are doing and doing it at scale, you can actually pay up (within reason) for properties that will help you increase the appraisals on existing properties.

The average appraisal cost for the area seems way lower by Google search.

If you're financing, your lender will require an appraisal.

@Anthony Serino  I have a 5 unit that was recently appraised. 

@Alex KernusWe just completed a new construction in FL that appraised for $45k above what we initially paid for it. 

You will need an LLC and you will have to pay for an appraisal out of pocketThese are the realities of being a first time flipper with hard money.

Are the lender fees what they promised....for underwriting, processing, appraisal, etc.guaranteed rate is normally pretty good on fees, but there may be charges that are out of their control.  

Simple answer: get an appraisal when you move out.

Waiting for appraisal.

Although it was much more delayed (a whole year) because of issues breaking ground on the community and then hindered distribution lines for materials, it ended up being a good deal for us.We’re getting a 13% CoCROI and the appraisal came in for 8.5% higher than the purchase price.