Zillow's estimates are way lower than I would expect my house to appraise for because of upgrades like granite counters, etc (even an extra room that magically appeared over my garage :lol: ).

I was thinking of calling the broker that is listing it and asking about a viewing then getting pictures of problem areas, and try my hand at negotiating a lower price.

We really wanted to lower our monthly expenses, and leave room for cash flow after living there for about a year, at which time we hope to sandwich lease option it.

If you can show that the property is worth less than others that have lower taxes it is almost a slam dunk.

This is great from a cash flow perspective but you are in lower end rentals so tenants must be screened CAREFULLY.

When you get a loan to buy a property, almost all conventional lenders will use the lower of the purchase price or the appraised value.You can, however, get rehab loans that will base the value on the price after repairs.

I don't remember what I paid for the rehab bootcamp but I've been back to it three times for free..... so that has lowered my cost basis a bit.

Expenses should always be calculated at 50%, remember maybe this year they will be lower but at a point you'll need to change major items like roof furnace a/c etc etc etc If you buy a house for 100k it needs to pay 2k in rents every month, simple as that.Let's say you have 100k in cash, you use 60k to buy a house that is really worth 100k and it rents for 1200$ (2% of 60k) and cashflows 150$ a month, your net worth has just jumped to 140k, your monthly income has just increased by 1800$/year.

Where the land is near, if there is construction in the surrounding area, big city or rural, etc.It's always good to invest in land on the outskirts of big, growing cities, as the land value is lower than in the city but sooner than later the city will grow to encompass that land.

They'll have lower cost than a broker but the rates may be a bit higher and on shorter terms.How much of a discount are you buying the property at?