I personally believe in getting information from three sources, and then crafting your best estimate from those.

@Lucas Carl I just PM'ed you with some more detailed information

--I'd recommend sitting down informally with your seller, maybe over lunch or coffee, and just having a casual conversation.

I don't know how Zillow's algorithms work but it doesn't update for any of the subjective information.  

Wow i just finished reading this thread and thanks so much for that information.

@Eddie T. thanks for the advice!

Instead, spend all of your time learning how to analyze properties and the markets they're in, and how to use that information to be able to invest that $20,000 in the most effective way possible.

Great to know, Thank you for the information

As someone who is just getting into REI, I've already learned so much great information and plan to learn much more. 

I want to send a notice introducing us as the new owners and giving them notice that in order to renew their lease they first must consent to a criminal, credit, and eviction screening under our new minimum qualifications/new lease terms for all persons over the age of 18 that live in the home and also inform them that rent will be increasing November giving them the chance to stay if they want  and meet our rental qualifications or decide if it's best for them to move.I want to know does this seem reasonable and if there are some things I should consider before moving forward with this plan?