I figured I'd test out the calculator using the numbers from my first investment property that I'm about to refinance.

The definition of fair market is along the lines of: The price a ready willing and able buyer will pay, acting in their own best interest, being informed as to market values and conditions.So by definition, market value is (almost) reduced to what a buyer is willing to pay.Add in multiple offers and one can logically argue, the accepted offer was bid up to market value.Contrast this with refinances where there is no test of market value, there is no purchase contract to establish value......in this cases, I often find appraisals come in low.

You can also ask this question a contractor that would test fire systems. 

How do you test appliances, etc. to ensure everything is working as it should?

Test

The tenant is testing you.

I decided to run my numbers to see if this makes sense. rental income, if all floors are occupied is $5050/MO but the mortgage and expenses are $4300 a month not including money aside for repairs, vacancy etc. on the initial testing,monthly cash flow would be $250ish. 299k just won't work, I came back to the wholesale guy and he said the owner owes 235k and wants 45k on top of that and they won't entertain under 280k.I did the 65% rule and even with that I was over budget 100k.

You could also get it tested

" Dale's dad says "No, Dale just ate he is testing you to see how much he can get away with" Dale then says "i'm hungry" all while having a sandwich in his hand lol.It's possible they are testing you.

AQ Testing Services - Linda Lauver - 440 Cobia Dr in Katy for TESTINGPuroClean for RemediationI haven't used either, but people I trust in my office recommend both.Hope this helps!