They are right next to each other in a great neighborhood.

Unfortunately, most places we invest have HOAs, but we try to stick to the ones that are just minimal (maintaining neighborhood entrances, street lighting, and roads).

Or different neighborhoods or areas within a city.For instance, I'm struggling to determine appropriate CAP rates for A, B, C class neighborhoods within areas of my local market of St.

Residential properties change, neighborhoods change, homes become dysfunctional, market changes can take values down as well as up.There are very few 100 year old homes in my area that remain desirable today.Commercial can suffer similar issues.Always have an exit, there are aspects beyond your control that can effect a property, the trick can be when to bail out before negative influences arrive.There are several trusts that can be beneficial in holding good properties long term, just make sure there is flexibility built in to dump a property and move on to something else. :)

Extra care should be given to the state of the neighborhood and it's future prospects as well as making sure the repairs and expenses are nailed down.

I wanted to know what would be a good offer(owner finance deal) for a 4br 2bath property in a fairly decently neighborhood .

They have been extremely valuable in providing us insight into the neighborhoods, the hotter markets, the type and materials of rehabs that are selling; as well as knowledge in the requirements of the flip needed for the buyers to qualify.

Just be sure to be mindful of which ones are retail and which are foreclosures/shortsales.Also be mindful of neighborhood boundaries, as they play a big role in the comps an appraiser will choose (learned this the hard way) :)

The house is in a nice but modest area that is well located in a neighborhood of almost all owner occupied homes close to schools, parks, etc...

If it's a good deal, in a good neighborhood, we might be in a position to buy.