I’ve had some people tell me that they do this in two steps, one for the infection, and another one later on once the final determination of losses are determined.

The custom builders in the area are very competitive and are offering pretty inexpensive builds vs comps.If the lot was purchased recently for 20K and the turn-key cost to build is $200K, after I close on the house (bank said appraised value would be 220K), would a new buyer have problems with it getting appraised over $220K even with other comps selling for 300K+?

If I'm trying to determine market value of a property I'll use Zillow to see what similar properties in the area have been selling for the last 3-6 months. 

Isn't it the responsibility of the owners to determine value and hire a real estate agent or an appraiser?

Also I only hope to purchase 1 new property a year so I assume those situations wont pop up too often.Thanks for the quick reply!

Meaning if you expect the new water heater to last 8 years and it cost $1,200 to purchase and install then it cost you $12.50 per month on average and that's the number you should use when calculating monthly cash flow.Being hit with a lot of capex early on when you own a rental can have an impact on your reserves for sure, but the nice thing is once they're done you should have X years before the same expense comes up again.

This is very common.Lets say suburban purchased 50 miles radius outside of city center.

That ensures you don't spend it on other things and know exactly how much you have to spend on the next purchase.

Hi Samuel, What is the price point for this purchase?

If it is elongated and stretches along the right-of-way of the railroad then I would be less inclined to purchase it.