Not saying it doesn't happen, but I'd be surprised if many agents were employing this technique -- I imagine it's frowned upon in most areas, and the deception could easily be determined by anyone with access to recent sales data.

Can someone let me know if I'm close or way out of line with my initial assumptions/valuation techniques?

Any painting technique you could recommend that would fix it for me?

I agree...I was simply pointing out the three core value techniques.

The old guys haven't kept up with the current trends and techniques.

Yes, there are techniques that will allow you to buy a property no money down.

Part of my getting started has been first to become educated to the investment techniques, setting up my home office, scouring the forums, joined REI club, assembling a buyer's list, reading a ton of books, etc.

Finally, it doesn't seem that anybody emphasized sitting down with your potential investor and simply asking him what his expectations are - that will often clarify issues very specifically, and you can tailor your detail presentation to him in light of his preference.

It was decades before some turned around while others never did (at least so far and it has been 40+ years).Know your market and use the right investment technique for each market.John Corey

The key is knowing what the details in the contracts really mean and when to adjust.If you use a lawyer you will get a set of contracts that are tailored to what you want, you might be getting an education in what to watch out for and you will have the lawyer's insurance policy if there is a contract flaw that can be proven.Do search around and ask others to see what they are using.