I found the following paragraph:My question is: what are the odds that this $38,400 corresponds to the price that the wholesaler paid?

Keep in mind this is a oil town with big ups and downs economically and all property here is inflated drastically because of it.

Now, we are determined again, but trying to determine if there is still money to be made given the inflated prices we are seeing.  

Now, we are determined again, but trying to determine if there is still money to be made given the inflated prices we are seeing.

With the 800K invested I'd have a SWR of 32K a year on top of that rental income at 4% a year, bringing my total income from passive sources to 80K a year.I can either:A) Keep the cash and wait for buying opportunities in stocks and real estate, although I don't think we will see as big a crash again for a loooooong time.B) Keep buying now while interest rates are low and let time and inflation raise my rental income, while prices likely slowly tickle up and have occasional ups and downs (cash flow is more important than net worth).C) Pay them all off to reduce my risks and pull down 80K a year after all expenses (vacancy, capex, insurance, property taxes, etc.)D) Leave them as is and still make 80K a year passively in a much more tax advantaged way.With any of these above options I can either choose to keep working or retire, except for option A and B which require W2 income.No I didn't inherit any money.

The odds of beating the 1% rule is more likely! 

@Jeff Greenberg @Brent CrosbyMy responses above wouldn’t allow me to tag either of you for some odd reason, probably something to do with responding on my phone. 

Odds are the appraiser will value it based on market rent - i.e. you would not get a bigger appraised value if you rented it to yourself at double the market rent - the value is the value so to speak, as far as what it would rent for on the open market. 

I think they do that because they are inflating their assets so they can increase their loan pool.

Prices maybe a little over inflated, but it is a great market if you can find a deal.