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.

Is AZ/Phoenix landlord friendly or tenant friendlyAre there still properties  out there which can fit 1% rule .Are there lot of multi family homes as compared to SFH ? 

So if I pay $1000 every single month, more is going into the principal in year 2, compared to year 1. 

If you were to proceed you would need to check zoning to see if building another residence is authorized.