I can see that this is already a good step to building a progressive real estate career.  

Once a Value is established you then evaluate the condition of the property to estimate the amount of Rehabilitation work required to bring it up to Market standards.  

Specially I want to know how to evaluate if the bank is essentially giving me a good deal.

Let me know if you're ever traveling through there and you can stop by and see the work in progress.

He responded that not receiving the proper work has cost him over $3000 and growing at a rate of $1000 per day for "lost wages and construction progress."

Buying in the Burbs of Philadelphia you need to keep some factors in mind;* Follow the Trains coming into Philadelphia* Evaluate the taxes in the towns and major train stops* Will have less turn over with 2 Bedroom than 1 Bedroom mixes* School Systems will be important* Near a college or university* Does the real estate agent own investment properties themselves and willing to show them to you and see how they operate.

Most of my questions and future posts will be around forming an LLC, hiring and evaluating contractors, investment strategy with current property unit as well as to becoming more intimate with real estate math/spreadsheets.

Also don't forget to evaluate your search terms and add keywords to your negative keyword lists.

I'm not sure if it will really makes a difference because when you apply for the heloc, the mortgage rep will still evaluate your DTI.  

I did notice they were very persistent in getting that Evaluation, which I did end up getting the evaluation.