Yesterday I posted about how my wife and I are moving from San Francisco to Chicago and looking to do a house hack. @Brie Schmidt gave me some pretty good advice around tradeoffs between price, location, cash flow, et...

If you have grounds for a reduction, recent arms length purchase or neighborhood comparable sales that prove a discrepancy in value it’s an arduous, but not difficult process.

I think this makes financing interesting as I won't be able to get a traditional mortgage. 

@Robert LindsleyTypically, either comparable sales in the area or using the cap rate.NOI/Cap Rate = Price.

Most traditional lenders have six-month seasoning (i.e. ownership) requirements for you to get refinanced and get your money back out.

@Josh Fernandez When you buy a foreclosed home you still have to go through the traditional closing steps as if you were buying a traditional sale.

I pretty much live and breathe in turnkey world and see all the ins and outs of them, but I'll start and give you just a generalized idea of the pros and cons of them as compared to buying and rehabbing- https://www.biggerpockets.com/renewsblog/buy-rehab...That article isn't inclusive of all of the pros and cons, I can list more, but start there.

You might want to compare markets.

You will always get more cash flow in a 30yr loan so I don’t think they can be compared to 15yr mortgages equally.

So the value will come from the CAP rate or comparable sales that recently occurred.