After you get your feet wet, and if your state allows it, you can do work in other areas as well.If you're working with an appraiser you'll find that it depends on the purpose of the appraisal.Attorneys have appraisals done for estates, estate planning and trusts, tax purposes, commercial properties can be done to adjust assets on the books, bankruptcies will often get an appraisal, so the type of work you go int will have a bearing on income.

If it ios an adjustable rate mortgage, then I may receive less interst in the payments thereby lowering my yield.

If your an owner in the LLC you will have a partnership interest that would include your original basis and adjustments that are made each year.

This ad just appeared in Craigs List in my area.

One last question, when I add the 40K to my basis, do I add it this year on my tax return, and depreciate that new adjusted amount?

we've spent a lot of time figuring out where we are most competitive - projects that need a lot of renovation, have hair on title, difficult tenants, and larger balance.I recommend you look at the data and figure out where you can make the largest risk adjusted returns and focus there.

Just an adjustment in values.

The typical numbers we rehabbers shoot for is 70% of market value less repairs, however, when your exit prices are below $100k, you often must make adjustments to that rule of thumb.

If that't the case, then that is what I would put.I would *not* subtract here for closing costs and commissions because (1) that was not part of the instructions and (2) the lender may very well do that for you behind the scenes, so you don't want to be double-whammied.I know when I was underwriting commercial loans, we would look at the "adjusted net worth" of the guarantor.

Adjustable Rate Mortgages3.