I will keep you post on that, lol.The appraiser that gave the initial appraisal said that once the rehab is completed the duplex will be worth $155,000.

The seller had a “current appraisal” at nearly double what my offer would have been.

I don't think we've wiped out the appraisal fee, might still be a couple hundo left of other closing costs, but typically I'm not a huge fan of a 0.25% rate bump, this is the sweet spot in my view.

I have heard HUD inspections, getting certified contractors, appraising, etc. can be an arduous process.

The value of the property was appraised at about $250k when the purchaser died and the property was transferred to the current owner in the family, so we would see capital gains on $1.35 mil of the sales price if sold for 1.6 mil.

When I was in the process of purchasing the home I knew that the appraisal when I sold it would be an issue due to lack of comparable sales in the area.

It is a SFH 1,700 sq/ft 3bed,2bath updated, owned solar, great neighborhood and school districtCurrentlyMortgage $2,800 (P,I,tax, insurance)Purchased at $545,000 in 2013Loan balance $425,000Home value $750,000 estimatedRate 3.25%, 30 year fixedSale $280,000 profit est after fees, fixes, closing, etc, I have lived in it for several years so profit would be tax freeAssuming again a $750,000 appraised valueRefinance rate 3%Refinance cost $3000Pull out about $200,000New Loan for $625,000New Mortgage 3,300 monthI could rent it out for around $3200-$3300 estimated, I would manage it myselfOptions1) Sell2) Rent3) Refinance with cash out and rentIt seems like a good idea to refinance and rent, if I did sell, I would invest in other properties like multifamily properties with better ROI.

At $150-$200 per squre foot for new construction it is economically impossible to build a single family home within most Milwaukee neighborhoods and obtain bank finanzing for it - it would not appraise out.

I know that on 1-4, you can study comps and ARVs and have a fairly good idea, but you're still more vulnerable to market conditions (i think).5 or 6 units could be priced similarly, but if you increase NOI, you should be able to increase the appraised value, thus having better chances of a successful BRRRR.

I realize that the value of the property probably only meaningfully changes in a tangible way when its appraised.