Rents are at an all time high right now and are continuing to increase.

Non-owner occupied loans aren't possible on most of these homes due to the poor shape and condition.4.  

My current plan is:(a) Finish the rehab, increase value of the house(b) Tap into the equity from (a) to help finance the addition of a legal unit in the garage(c) Tap into the equity from (b) to help finance more real estate investmentsNot sure exactly what (c) will be.

She is to find them and I am to rehab them no matter the condition.

Homes in that price range are increasingly hard to find.

Would someone recommend a better method.I want to start making some offers to increase my chances of getting a property under contract.Thanks in advance everyone!

The property is in good condition, it just needs some landscaping work.

For example if the report found a condition that would cost $400 to remedy and you asked for $10,000 then maybe they could argue you were using the inspection to back out for other reasons.I would tell the sellers agent, you will provide the report AFTER they return your money and agree in writing the contract is cancelled. 

Stories: 2Year Built: 1984Lot Size: 6.14 ACAPN / Parcel ID: 3-29-00-058.02Last Verified: 3/18/2016 Highlights Over $250,000 Invested in Capital Improvements in the Past 24 MonthsSeveral Units Completely Rehabed with several HVAC/Appliances replacedUpside through Rent Increase to market rate, Improved Management & adding new unitsWell below Replacement CostCash on Cash Return : 25.31% (I do not know how they are getting this number)Internal Rate of Return (IRR) : 23.22% (I also don't know how they got this number)DescriptionValue add opportunity for a new owner. 36-unit, garden-style apartment community built in 1984, the property contains 5 two-story and 1 one-story buildings encompassing wood exteriors and pitched roofs.

You have to understand what goes into their report like the condition adjustment scale, quality of construction sale, how to pull the proper comps for the property (which can be different comps from actually valuing the property), how to value certain features in comps with the appraisal in mind, knowing what features can created price adjustments and which ones don't.