This is then divided by 27.5 years to determine annual depreciation. 

Hi members, I'm trying to analyze a deal to determine purchase price for a storage facility owned by mom/pop operator in a town with 10k population in AL to place LOI today or tomorrow. only one other facility in town. 

Determine what the end goal is and develop the skill that will get your closest to that first.I also don’t usually recommend being both unless you plan on putting significant effort into being an agent as there are fees involved with being an agent that make if expensive if you aren’t actively using your license.Good luck!

Some banks lower LTV they do basic drive by to determine value for LOC.

When do you determine the 1%-2% test?

The state you are in determines laws and procedures, but…..1) you can still buy the property from the current owner, if you can make a deal2) the bank will pay the taxes so it won’t go to a tax auction3) if it gets to the lender foreclosure auction, you can a) buy it st the auction or b) if the bank gets it back, buy it from them when it gets to the mls or a REO auction site. 

Yes, something that helps us determine A, B, C and D neighborhoods for those of us that invest out of state would be helpful.

Right now the market is heavily in favor of the seller, so be cautious that you don’t determine your long-term strategies according to the numbers you are making in the current market.

Before spending too much time looking for your market, take a little time and outline your goals, then work backward and determine an investing strategy to reach those goals. 

Additionally, the VA is likely going to be making changes to their appraisal requirements to require appraisers to be less stringent in determining the value.