If the ARV is $110,000 (a bit more conservative than your number), then the most I'd pay for this property as an investor would be about $65-70K, and I have a feeling that after seeing it, my number would probably be lower.You need to get an accurate assessment of the renovation costs and go from there.

Joel Owens, I agree fully with your assessment.

If you think about it in the terms of commercial cap rates, 5.0% is what A+ will go for, 8% for B; this stuff likely falls in line with that assessment.

The allocation of equity in a lease option has been pretty consistant and is assessed at the time of loan application/appraisal.

Challenge tax assessments aggressively as you buy properties, there are consultants that can execute the entire appeals process for you.

I sent in the same offer, with an additional contingency - I need to walk the property once more, to assess if a reinspection is needed.

I recently had damage caused by Hurricane Issac on one of my mobile homes and had Foremost Insurance come out to assess the damage and file a claim.I was very disappointed to find out I have "loop hole" clauses in my policy that have basically reduced my claim to nearly zero.For instance there is a clause;"damage must be caused by storm induced openings" I've had water leakage into several spots in my mobile home and the adjuster said he could not see any "storm induced openings" that caused the damage.Another one is:"not responsibe for wind blown rain" damageNow how many of you think hurricanes can cause "wind blown rain" damage.

In your neighboring state of PA, if you did that you would be paying the real estate transfer tax on imputed fair market value (actually done by multiplying the tax assessed value by the state's fudge factor for the county, but that is just the technical way they get the market value).

So, be aware of any taxes, insurance, utility fees, assessment or such.

Analyze past auction property assessment vs actual sale amount(on resale-able and/or rental prospects), then apply to this years candidates.