The best proxy for calibrating whether or not you are paying too much is to do a simple comparable or to compare nearby price/door.Ray Alcorn has a FANTASTIC article called, "What's It Worth - Deriving YOUR Capitalization Rate."

My bad.I guess "I should have calibrated those words differently!"

(I'm a fairly newbie investor, still trying to learn/digest as much as I can about investing, so please bear with me if these are basic questions.)When you invest in a distant property, is it better to find a lender who is geographically closer to you (so it's presumably a quicker turnaround for you to communicate with them), or is it recommended to use one that is closer to the actual property/city/state (since they may be better calibrated to the local property values/appraisals/laws/etc.)?

I think I understand your question but I’ll try and shed some light on why your question may need a bit of calibrating and why you might not be getting the responses you were hoping for.

WOW, so many aspects a basic 101 manage the PM, and calibrating expectation is required!

I used a lot of conservative rules-of-thumb figures (given that I am a rookie) in my numbers obtained from Brandon Turner’s books, as well as from podcasts, webinars, blog posts, and YouTube videos of other investors, until I gain the experience to know how to calibrate my numbers organically.P.P.S.

This helps everybody calibrate their advice to the next person.

Is there any clause in the landlord/tenant's law that protects landlord from tenants of that calibre - in the form of compensation?

In Maryland, I highly recommend Susan Kleinhammer and the firm of LEADTEC for this service, they use the xray gun to measure lead levels in the property.The courts recognize the xray gun findings, just make sure the gun has been serviced and calibrated by a service professional.

My BS filter is now more calibrated for what is and is not a realistic timeline for new construction.