I live in a very hot rental market and demand is much higher than supply.My housing authority publishes a chart of what they will pay for the amount of bedroom house that you have.

Everything is pretty cheap here compared to Seattle.

Compare notes and do what you can to find sold prices near by ie comps for arvs but basically keep looking at deals until you know a good deal when you see it

Gtots do comparables!

The appraiser had a hard time finding sale sales comparables because only 2, 4 plexes sold within the last year in the area. so he did a sales comparable approach (which came out lower than the purchase price) and an income comparable approach (which came out 30k higher than purchase price).

The appraiser had a hard time finding sale sales comparables because only 2, 4 plexes sold within the last year in the area. so he did a sales comparable approach (which came out lower than the purchase price) and an income comparable approach (which came out 30k higher than purchase price).

@Jordon NicholsPre-qualification is not as solid as the Pre-Authorization. 

There are lots of MFH investors and people that want to house hack.It also depends where in Fitchburg -- the MFHs are clustered in the downtown area.Finally, house prices in Fitchburg are relatively low compared to the rest of the state.

He just needs to take the probate settlement to his accountant to verify his basis right now and compare that to a possible sale price.  

At my most recent meeting with the LA housing authority I learned about Prop 10 that basically limits the amount of rent a landlord can increase a vacant unit.