(Southern California) Graduated from UCLA in 2003, I have fairly extensive entrepreneurship experience.

This is a pretty fair trade for their time.keep after it, read books, read BP, get to your local investor meetings.

http://www.biggerpockets.com/rei/fair-market-rent/

I worked out an extremely fair deal that I was willing to offer had I gotten the chance.

I would assume anything there is fairly expensive.

It's a fairly rough estimate but there are two areas each with about a total area of around... 16sq miles (so a total of about 32sq miles).

Check with a local mortgage broker who does a bunch of FHA to see if this would be possible or that you would have to go conventional.There are weird loan situations sometimes where you get exceptions approved in underwriting on a case by case basis.I am not an expert on this but would research it this way to see what is possible.

Sean, what you are looking to do is provide comps to show you are making a fair offer...correct?

Yes well luckily she did put the money in an envelope and not just throw a bunch of $20 bills in the mailbox.

It was fairly generic and was geared more towards what a bank would use if you went to do a refi assuming they don't use appraised value.I understand for analysis that you need to use the total costs.