I consider the small amount of comissions saved nothing; compared to the work involved that a realtor does for me. 

How's it going? My name is Tim and I'm a young investor looking to close a deal. Her realtor said the house is worth 300k after work is done. Zillow says it's worth no more than 275k. I would like to have a realtor do...

Think about the RE prices when you were a kid compared to today. 

The appriser  will count rehab cost so can compare with same comps in your area. 

The MLS is marketing it as a multifamily residential property and was valued based on comparable homes.

I am assuming you are getting the HELOC for the down payment and that you are going to get traditional debt for the rest of your purchase.A lot of people treat helocs like free cash and then get hurt when it is due. 

When the appraisal is done, it will also show fair market rents for the units, the lender will compare these to your lease amounts, but wont really do anything other than compare?

First step is look at comparable properties that are in prime condition and see what they sell for.

@Ken Yeung I would definetly look at what rental rates are for your home, make sure you compare apples to apples if it is a 3/1 or 3/2 etc. 

When I refinance into a traditional 30 year fixed, the bank will only loan 75% or 80% LTV ($120K or $150K).Long story less long, if you all were to find a $300K deal that you loved, how would you go about paying back the private money you received to acquire the property?