I like to ask to see the owner's previous two years tax returns, which invariably will indicate operating expenses much higher than the pro-forma they give you.In which case, it's fun to ask, "Are you lying to me on the pro-forma or are you cheating on your tax returns?"

Can a well done CMA be a good indicator to the likely FMV of any subject property???

The problem, as you have indicated, is having the time to hold the open houses, handle the round robin bidding, etc.

As the other poster indicated, why could be motivated by many reasons---divorce, relocation, changes of income/health tend to be the leading motivators most of the time...As there are no renovations needed, ARV is the wrong term to use (after repair value pertains to properties that are in need of repair)---CMV or current market value might be a more appropriate term to use.

The seller is "motivated" and indicated this is the last of a series of properties they are selling.

Anything that would indicate the owner has vacated the property and is no longer caring for it.When you see it, get out and walk around the neighborhood.

All the indications are, it's a good time to buy.

:mrgreen: I agree with you that other markets are a better option for me, someone with minimal savings and lower income.

I have no data to back up my opinion), I'll bet you would find that many who have made their fortunes in RE made it from appreciation, not cash flow.I'd love to hear thoughts on this and hopefully I qualified my comments enough to indicate that I don't believe on betting strictly on appreciation, especially if you can't support the property that you are buying with your reserves.

Indicate that the legal address will be provided by the title company when they issue a title report.John Corey