This information all comes from viewing houses, looking at comps and spending time in the area.

My view is that I should ignore my CPA, and go with the REPLACEMENT VALUE the insurance company assessed on the building.

However, I viewed a 2/1 home that was renovated, new roof, flooring, paint, ac, etc for $26k that rents for $425 and is currently occupied.My old town is only 90 miles away and I'd be up there at least twice a month and would have a property management company manage the properties.

They took the view that the system is really a way to broker deals and collect a fee.The article is posted in a link on this site.

I've not been in the house, as it's not available to view, but I think that it would be prudent to assume that it's rehab would be worst case scenario cost-wise.My next step will be dealing with a private lender.

I realize my question is about home buying, but I view it as an investment vehicle as well.I found a condo.

My buddy is in a situation that from my point of view is not looking to good.He currently owes $370,000 with a 1st, and 2nd.

The mountain views and the feel of exclusivity make it nice for us.

Take a trip in those landlord shoes even once...then challenge the LL view.

or should you actually go out and view the property and THEN make an offer?