What condition is it in? 

The situation is this: My Grandfather passed about 20 years ago and left his estate to 4 children, uncle1, uncle2, aunt and my fatherThere are multiple properties/parcels (6 total) in the estate that are co-owned by the 4 siblings, all 4 names on the deeds.Uncle1 defaulted on his personal mortgageLien holder(bank) repo’d his home but home was underwater, and thus still owed beyond the repo.Lien holder found out about the shared/partner assets that uncle1 had with siblings and decided to go after themI'm not clear on the exact process, but I believe the bank will take possession of uncle1 (1/4) share in the partnership properties then will legally force the 4 way partnership to be dissolved through a court proceeding.The other partners or another investor are able to buyout the bank owned (1/4) share at an appraisal price.The appraisal is filed with the court so there are no shenanigans with valuationIf no buyout then the whole property goes to sheriff saleTwo of the parcels are rental income farmland, these are the ones I'd be interested in investing inNobody in my family nor my grandfather are/were farmers, the acreage has always been rented outI’m trying to determine whether I can buy out Uncle's1 share from the lien holder bank at the appraisal price with an IRA LLC and become the 4th partner?

The property was built in 1984 and is in good condition interior and exterior.

In order to get the ARV, what if the only comps you find all needed work to be done and all of them were in a bad condition so they sold at a low price, then how do you figure out the ARV of your property?

Current goal is to close on a 2-4 unit multi-family by the end of the year. 75-100/door is exactly the budget I am looking into, so I'll definitely check your recommendations.

Buttt...It depends on what exactly you want to do in real estate and what your goals are which will determine the path you choose to embark on.

In my (very small) city there are exactly 0 duplexes (or any multi family’s) on MLS.

"NET OPERATING INCOME," "CASH FLOW BEFORE TAXES," "PROJECTED SELLING PRICE," and "BEFORE-TAX SALE PROCEEDS") and have the EXACT same numbers that Mr.

Terms/conditions obviously wont be good as a Fannie/Freddie loan.

I purchased the rental in 2009 when i was stationed in that area and due to the condition of it i got a really good deal on it did most of the repairs myself over time.....Before the fire i was paying $280/month mortgage and $225/month hoa.