@Mike Cumbie Nice point taken from the story :)I guess there is no 'right thing' in these situation: that old lady made the best choice she could with the information she had and the background she came from. 

Sometimes if people do not like the evaluation then they can try and stiff the appraiser with paying for it.With an appraisal for a bank, construction loan,etc. the appraiser has standards to meet and can be held more accountable so those reports tend to hold more weight on accuracy although an appraisal is just an opinion and not an absolute.No legal advice given.    

@Matthew Paul I like that expression, but I've never heard of that one - does that come from the Indiana Jones, 'switching sand bags' as weights in replacement of a gem stone/chalice scene?

You're taking raw materials (a crummy property, building materials) and labor and producing a produce - a nice house. 

I don’t rent houses with high rent.  2k in El Paso is a very nice house.  

It does cash flow nicely but more so it will quickly gain equity as property values are quickly elevating in the area. 

Excellent reputation, and will add a lot more weight to your offer than a credit union.Also if the property is in DC proper....frankly you have very little chance of getting an offer accepted with an inspection contingency.  

I want to built a nice looking house for an affordable price that will ultimately bring value to my restoration and bring a nice profit. 

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

@Rabeeya Khan Croker Highlands is a nice area.