Being in and out of houses all day, every day give you insight on market conditions and allows you to take a pretty solid guess at ARV before you even run the numbers.We still suffer some of the regular problems though - like finding contractors who will show up on time and stay on budget.I have contacted about a half dozen paving contractors to look at a job at my home.  4 never returned the calls, two showed up and promised estimates. 

I think it depends on the property type, condition, market you’re in, and type of tenants the property gets.

Some of the state questions looked exactly the same as exam smart. 

Just look for a comp that is in similar condition with other similar specs like sqft or missing contingencies etc.

Any grey areas between move in and current condition, I would eat the cost.

So the basic financials are $281,900 purchase price, $100,000 rehab cost, then when this is complete the income of the property would be $850 and no utility expenses.I am planning on using the BRRR strategy for this property.My wife and my personal finances is I have $14000 in savings, $600 in another account and I have a line of credit of $40,000 with and interest rate of 7.8%.I have not exactly officially offered this $281,900 but I want to but before that I want to hear any opinions and things I may not have thought of.

You can structure it to where the tenant is responsible for all the repairs but be careful, if there is a major repair right after they move in they may think that you sold them a lemon of a property with pre-existing conditions that were kept secret and that could create big problems for you.

Or you can use Zillow to determine the value by comparing the property to other houses that have sold in the area in recent times that are about the same size and condition

It’s also in a city I know very little about (Norfolk, VA) here are the numbers- I welcome your thoughts/ insights:$259k - sales Price (4- unit building fully occupied)$1460- total mortgage payment (after 25%) down $305- Property Management Feee (10%)$105- trash (total water is $315 p/m but seller bills water to tenants and has it written in the lease)$60 - lawn careTotal rents are $3050Owner says monthly expenses are low.The best case scenario is net income of $737 assuming $400 extra monthly expenses (for worse case scenario unexpected expenses which always come up) and assuming all the tenants pay their rent.Positives- - Seems to be a good cash flow if expenses are kept low and everybody pays- 4-plex is located in an 85% residential area- building is ok condition (built in late 70’s) except roof is 18 yrs old- all tenants are gainfully employedConcerns- while the neighborhood visually looked fine, according to crimemapping.com its a moderately high crime area.

If you want an exact answer you have to make sure we are well informed in the question, and know enough about your goals, background, and situation to make an informed and insightful answer to guide you in the right direction.