I am in San Antonio and curious what metrics you use to compare markets.

It needs to be explained to them that it is heat and they need to compare it to putting $1000.00 in an oil tank.

Which compared to NYC is very attractive for me.I'll check the boiler, roof, making sure current tenants are paying on time,...what are your thoughts?

first I would question how "comps" have such a wide range, a comparable rental unit, one that is like the one you will end up with, shouldn't vary that much at all, maybe $100 at the very most (probable more like $50), are you just comparing a big area and anything 3 bedroom?

That is probably in the range of what landlords will pay for SFHs but could be more or less depending on your market.Look for comparables.

Look at what comparable properties have sold within the last 6 mos.

Lastly, working with a lender that loans based on as-is value, normally will reward you with much better rates, lower points and longer terms, than your more traditional hard money lenders are going to give you.  

I have been watching the homepath properties for a while as the downpayment requirements are a little less that traditional.

Now everything is all said and done, and I want to do a cash out refinance, and I have two options.A) Traditional bank that I was lucky enough to find who will do 80% LTV. ($120,000)B) Fannie Mae DFE who will do "The loan amount will be limited to the lesser of: (a) 70-75% of ARV and (b) your original purchase price plus total closing costs and prepaids on the new loan

Lewiston is pretty, but small compared to Denver.