Rich No problem Rich ;).Warnemunde is near Rostock and Rostock is about 340 miles away from me.

There is a project 45 miles from me in this situation, all said and done after the dance was that the bank has to release the properties sold.

The dealer wanted $13,500, I talked him down to $10k by complaining about the 75k miles on it.I put another 225k on it, getting 50mpg, over the next 6 years and it broke last summer at 300k.

I have funds to acquire additional properties without selling either of these homes - that is not an issue.The home that is now at market rent is located a few miles from where we live (5 miles or less), ideal situation for me since I'm managing it myself.The point of the post was to show that after learning about BP I see I could have done much better and still accomplished my goal.

Look at sold comps (last six months/within half a mile), which means you have to get access to the MLS, or know someone who has access and will get you information...

Plus I have only $2000 to work with.I had my first ad come out in the local paper (I live in a very small town about 40 miles from Houston) Tuesday.

Normally I am very good at catching BS, even from miles away, but this one just slipped up.I learned for next time though.

The neighborhood isn't to bad, however, it starts getting worse about a mile away from the home.

Marcus, almost universally the tax assessments and the actual value of the property have nothing to do with one another.It is best to only use the comparables (similar property within 1/4 mile of the subject property and sales within the last 6 months) to evaluate the value and then make your offer price based on those comps and of course the cost of repairs, etc.Best of luck!

In addition to building a personal relationship (nobody likes to screw over someone they know and like), I also try to have the following things available to hand to the appraiser before he leaves (assuming this was a rehab project):- List of Sold, Pending and Active comps within .75 miles and 6 months;- Word doc with list of interior and exterior repairs completed;- Excel spreadsheet with list of repairs and their associated costs;- Before and after pictures of the property.On top of that, I always ask the appraiser for a business card and let him know that I'm always looking for good appraisers to work with on future projects (this is true).