It will help when you're evaluating buy & hold deals:

Keep making progress daily.

I look forward to taking these steps and reporting back on my progress so others in Canada especially can learn from our collective knowledge (And mistakes!).

The current deal I am evaluating looks like this:2 X 4 family units next door to each otherAsking price $289,000 eachOffer $250,000 eachRent is currently $550/month resulting in a conservative cash flow of NEGATIVE $4,500/monthUnits are out of date but in good shape.

I don't have the time to rehab and flip/hold (although I would enjoy the learning experience), so I'm here to become the investors go-to guy for evaluating and presenting properties.I'll be looking around for evaluation techniques, as well as estimating a wide variety of rehab repairs (roofs, baths, kitchens, floors, appliances, etc...).I would also be open to local investment clubs to meet like minded members.Thanks for your service!

Evaluating other areas around Seattle (within driving distance) could be a good route (as others here have suggested).Good luck!

I thought cap rate and GRM were important to evaluating 2-4 unit properties.

Keep us updated on the progress and any future deals

Something I use to evaluate rentals, that you will likely hear about hanging around here on BP:

Your best advice I believe and I would agree is to always consult an attorney when you are assessing your risk.You almost sound like an insurance agent, LOLThe only part I agree with that you mentioned is to see your attorney and that values may be different in different jurisdictions.I'd say the only ones on this site that can evaluate similar cases would be attorneys, certainly no layperson can make such an evaluation.When I had my insurance brokerage I also did finance work and estate planning with an attorney (who later became a judge) I did valuations for him for loss of work, loss of an eye, arm, leg which are pretty well statistically set, not wild determinations.As I said, costs of defense are insured, the attorney gets paid.If you are exposed to 50M in losses, insure for 60M.If you are under insured, you have a loss and your assets, like you said could be liquidated, but not all your assets, some assets are protected in BK.