The city isn't calling their areas C and D areas, it's a made-up system that takes into account random data points and personal preference and "skill."

I don't have all the data points for your property, but I would assume that your monthly expenses exceed 50% of the gross rents due to the abnormally high taxes, property management, relatively high vacancy rate, and the age of the properties leading to higher Capex and maintenance expenses.

Lenders have data beyond that contained in the MLS, they have thousands of contracts, bids, price ranges, market levels, as well as historical data that an investor is never exposed to.

Memphis is a large city, but I don't know if those resources with have enough data points for Jackson and smaller towns.  

Regardless, I'll be sure to let my attorneys know that they should reconsider their legal opinions because there is some random guy on the Internet without a law degree who is so confident they are wrong, he doesn't feel the need to support his assertions with any data?  

Sometimes the data can be overwhelming. 

MLS does have accurate records, as they use the actual numbers when the sale records and agents enter data (or that should be what they're using) I'm not sure where Trulia and Zillow get their numbers, or how accurate they are.Watch properties that are in the area of the one you have, and see what it sells for.

Over our last 30 projects, we've averaged almost exactly $20K profit, with an average resale price just over $100K.Don't know if thats typical or not, but it's one data point.

Hi Robert,Here is a link outlining The Fanie Mae 5- 10 property guidelines:https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2009/0902.pdfThis data was from 2009 but I don't think it has changed since.thx,Chris

Probably about as accurate as Zillow since they likely get their info from the same unreliable source.I also like Cyberhomes.com because they have a map that will display property values, and other data, as a color gradient.