I know that that price seems absurdly low, but what I would do is either tell the seller that that is the price you can work at (because, given its current condition, it's not worth more - to you, at least).

Automated software exists (desktop appraisals) but they don't really factor in the interior of the home and small nuances like a human appraiser would.MLS (if you have access to it), Redfin, Realtor.com, etc. will show you sold comps and have enough filters to get an accurate representation of ARV.

We humans like things that are linear.  10 percent drop in demand? 

Managing any other lease is just asking for human error(s)!

I want as much cashflow coming to me as humanly possible.

James HiddleMakes me wonder if Zillow has some human or program error in certain regions.

Bottom line is, its human nature to see more and then ask for more.

@Dana Chen That is my faith in humanity is restored story for the week.

However, if you had that kind of dough you'd also know a few things about human nature: many, if not most, salespeople are lazy and misread people.

In addition, until recently humans have not built efficient housing.