Key is where you pull your leads from.

@Peter Appla If you have an agent you can have them pull average rentals as well.

If you haven't already, I recommend you gather more facts by pulling a copy of the estate file from probate court.

If it only costs $735 to get rid of a problem, which most likely will annoy your tenants because most likely they will not be responsive to a tenant call either, I say pull the trigger and fire them. 

I basically pulled comps and did my own appraisal based on rents and conditions of the buildings...they had them assessed in some cases 30 or 40K higher than what was realistic.  

@Stuart Birdsong - I haven't done a title search yet to verify if there is a lien or not, but the township office didn't say anything about there having filed one when I went down to pull the details of the code violations and subsequent penalties. 

One might have looked at something the other didn't or they pulled comps in a different school district etc. a lot of different info goes into the valuation process.

I have an FHA with 30% paid down on my current primary under 3%, 15 year terms but plan to refi to a conventional and pull out the equity to both purchase a new primary and get an investment property. 

i thought you just pulled out money from your back pocket and bought a deal..................hahaha.im just waiting for the line IF i can do yall can do it!

I do have a copy of the by-laws and will pull out my highlighter.