The logical answer (provided that it is actually a "deal") is for your relative to be also given a 25% equity stake, and put onto the Title with you.

Where is the logic in that. 

However, I do think the logic you are using is beyond flawed and if you used it in every market it would lead to ruin.

I'll claim the most logical scenario is the property value will track inflation over time.  

Logic would tell you if three people think it is worth more, that it is, but appraisers care more about protecting themselves from liability, which means finding conservative comps.Take the offer and run.

Interested in the communities thoughts on this.I'm just looking for some guidance on how to think logically about investing in CA or not.

@Travis Sperr's logic on taking a future discount now is 100% spot on.  

Although the idea make sense logically, but because it's sound to me to start actively this program require $5.000 minimum , so that's why i would appreciate if any body who head done a deal with subject 2 and the marketing should reply, because even it's sounds right,  i still would like to hear that's it work in factThanks an advance for the one who will reply.

Is there some logic to my reasoning here or do you still think I'm missing the boat on this?

Sounds like a logical starting point.