It's all odds based.You run a good chance that the tenant won't challenge it as they did do damage, however if they do challenge it & take you to court you'll probably loose & most jurisdictions allow the tenant to sue you for double damages.

The only example is when I bought a building with a bunch of low rents.The backers of this law really want to protect tenants in hyper inflating rental areas from shocks of their rent doubling. 

Please share if you know of a reliable contractor who isn't going to charge double what the job entails. 

So, it really depends on the facts and circumstances, but this is something you may want to double-check.The issue with getting your own appraisal is that a lender may not trust that it wasn't done independently or jointly.

For my part, however, while paying a compressed cap rate for the in-place income, I am taking over original, un-renovated, and non-optimized assets with plenty of upside where I can underwrite close to doubling the NOI in 3 years.

I did the following spreadsheet for a client so he could picture the process and the results:If you are local we can sit and have coffee and sort out your goals.

Double checking never hurt anything with great risk.

This property is stabilized and producing great cash flow and providing double digit returns.

I shouldn’t necessarily take the word of some of the folks at the county, at least when I can double check this one out personally.

Do you have nice pictures online?