I'm not sure exactly where that is in FL but I do know if you plan on buying properties there I'd bet that the local economy will be positively impacted b/c of your move there.

I have no idea where he's been since, but he runs some sort of investment outfit and seems to have survived so far.The same high-risk stupid bets had brought down the system several times in the past, the most famous being the Great Depression era, which made the high-risk idea rather unpopular for quite a few years.

Of course it hedges it bet with the standard "all real estate is local."

I would bet a true comp would be lower...IMHO.I would base it on 60k to be safe, but make sure you confirm this with comps.70% of 60k = 42k42k-15k repairs = 37k3k closing cost = 3kMOST I would offer is 34kAgain if he motivated he motivated.

Originally posted by Randal D: comps in area run about 155K (need more comps however)instead of seeing what's being sold retail, check to see what's been foreclosing in the immediate area and I'll bet you that you'll find that the comps don't come near that amount.

Well, I bet you didn’t make more than I did! 

I think offering both is probably your best bet, but as an owner there is comfort in believing your tenant intends to stay for 12 months.

Are you betting on property appreciation or are you cash flowing?

@David Forester, it'll be interesting to see, but @Eddie Lehwald has a lot of timing issues, and based on the 10-1 city council's voting record, my bet is that they're looking to preserve the inner neighborhoods and promote density on the outskirts.

I could be off a little but I bet that's close after watching these wholesale posts the last 3 years I have been on BP. my 3 year anniversary is middle to end of FEB this year.