Income approach is better for you.This is fine and dandy for a layman's estimate, but you should have a professional appraisal before listing an $8 million property.

Now lots here are going for over 1 million!

For example, stunning views, proximity to attractions etc.

You want the insurance company’s lawyers fighting the lawsuit to defend their million(s) of dollars not just paying out the lower limit and letting you pay the rest.

I feel they typically attract longer term tenants that want to make it a home.

Thanks @Joshua Janus, so far it’s only attracted a few of our friends and family.

You might pay more for a premium buyers broker with extensive knowledge but lose way more 500k or 1 million on your purchase getting a bad analysis from an inexperienced broker or agent.The buyer broker will often ask the listing broker what the 50/50 co-op is on the deal?

It works well and I think helps attract tenants (lower vacancy).

There are a million different ways to make six figures, and they all work.

Clients preferred a ready to rent property because of busy W-2 jobs and were really focused on areas where they could attract top flight tenants.