It might be interesting to look at that site, but I would never rely on the values there for any true assessment.

How about just using the tax assessed value?

Previous assessments on the property's came in at $430K and $440K.I am not sure where my Seller got his numbers from as far as $430k and $440K.The actual assessments according to the tax records are $237,800.00 and $242,000.00.The Seller wants 650K for both properties combined.

Like you, Charles, I always have a good grasp of what my personal balance sheet looks like -- to me, this is much more interesting than my business balance sheet, as the business balance sheet treats some assets in a way that aren't useful for assessing my financial situation (for example, using market value of the assets as opposed to basis).Plus, my lender requires us to do a personal balance sheet every year, which forces us to break things down to the penny as well...

Without clear title as well as clearing other potential isssues like encroachments and assessments, you might be stepping into the a mess.

Current rents are $1000, $900, and $850.Building has been completely updated within the past 5 years.My plan is to move in owner occupied, live in one of the lofts and hold and find new renters for the retail space, which is rented below market rents for the sq. footage, approx 3000.Gross Operating Inc $50400.00 Total Expenses $12234.00 Net Income $38166.00 Assessed Value Land $48750.00 AV Improvements $518280.00 AV Total $566850.00 Looking for financing now, and hoping to make make a deal on this.

Current rents are $1000, $900, and $850.Building has been completely updated within the past 5 years.My plan is to move in owner occupied, live in one of the lofts and hold and find new renters for the retail space, which is rented below market rents for the sq. footage, approx 3000.Gross Operating Inc $50400.00 Total Expenses $12234.00 Net Income $38166.00 Assessed Value Land $48750.00 AV Improvements $518280.00 AV Total $566850.00 Looking for financing now, and hoping to make make a deal on this.

But when it is a quit claim deed for a dollar instead of actual consideration like you are suggesting, it is based on the Tax Assessed Value multiplied by the common level ratio of the county you are working in.

If you've fought your assessments down, all of that becomes null and void with a transfer of ownership.

HELOCs are difficult to negotiate becuase the seller could be on the hook for the loss.Also look for HOA liens or assessments.