On another past appraisal they came in at the exact dollar amount of the towns tax assessment....again a little bit fishy and that one really annoyed me because I felt it was too low and we were refinancing for a better interest rate and it caused us to lose enough equity to require PMI.

I might also try the "girlfriend test" to assess the sketchyness of the neighborhood if I'm not sure of an area.

The most obvious thing is that you don't have to pay the points, interest, doc fees, lenders policy, etc. self funding a flip saves you time, headache, and money.

In 2012, this house paid 3421 in tax on 154,000 assessed yeilding about 2.22% tax rate.

It'll be a good day when Google's self driving car is a reality for all.See you around!

The 50% rule is the formula most used to initially assess a property to see if it is cash flow positive or not.

I'm Steve, currently self-employed, but looking to expand into real estate for some stability.

Here's the link: http://www.nytimes.com/2012/04/21/your-money/self-directed-iras-in-real-estate-need-investor-effort.html?

Derek there are 2 objectives of using lease options.

An local architect is a good person to ask to see how likely it is that the variance will go through.Also, when applying for a variance you have to publicly announce it (in the paper or with a sign on the property) so any neighbors who may object have the opportunity to do so.