From there I can get a good idea of the general ARV for those types of homes in those areas and work backwards (using the 70% rule) to find homes that meet my criteria.The market is still hot and inventory still very low.  

There are tenants currently residing and renting the property for $1200/mo, including all utilites save water/sewer, but this rent could certainly be increased some, which it hasn't in the several years he's been renting it out.

The ac line broke under the house and I had a stopped up ac coil, this caused water damage and then bad floors.

I would like some thoughts around successful transition plans some of you have tried to increase rent, move some tenants out and transition utilities back to all tenants (water is currently paid by the owner). 

This is a hot community of hundreds of homes, where homes are selling like crazy and nothing stays on the market long, so I don't know why the appraiser chose to go almost to the edge of the community for comps.  

That is to say that every lender has different guidelines, restrictions, hot buttons, and asset class preferences.

Anything below that WILL fail, because the water will back up under the overlapping shingles.  2/12 is minimum, 4/12 and above should be considered normal.  

No heat/air, no water, flood/major leaking.

@Shayla Fletcher , two my properties are in flood zones, I have owed both them after 2 100 year floods, and the water did not even reach the homes.  

Easily 95%+ of all new development south of the George Bush is single house builds from scrape-off projects.  30-years ago no one could figure out why anyone would want to live way out in The Colony, Frisco was still just a water tower in the distance, and Plano was just another suburb.