Having trouble figuring out property comps due to foreclosures

[Keith A.]

I wanted to see if others are seeing the same scenarios. I buy properties that need rehab and also ones that have already been rehabbed.

One that I am looking at has already been rehabbed but there are no comps close by to support the sale price. From a rental perspective (we are long term buy and hold) the numbers work at that price but I still don't want to overpay.

Any sales in the area seem to be from foreclosures and are low. My fear is purchasing it and then going to refi it later and finding the value to be lower than what we paid.

Any thoughts or suggestions would be appreciated.