Help With determining ARV

[John Frank]

I am a new investor working on the purchase of my fourth property. My first two properties were REO's that I purchased, rehabbed, rented and am looking to refinance. My other two properties are turn-key rentals. I am really struggling with determining my ARV for projects or just determining the values of the properties. I have used multiple listing sites (Zillow, Trulia, Realtor) to determine the local sales in my area and feel that I get a good ARV to later get the property appraised to refinance and find that I am way off on my ARV. On my second property I have more invested than what it is worth based on my recent appraisal. Reading on Bigger Pockets everyone says that MLS is the best way but I don't have access to MLS and just starting out I don't have all of the networking connections to have someone do it for me. Also I would like to learn myself so that I can make sure I am analyzing deals properly. I am getting all of my other expense (holding, rehab, etc.) correct or at least very close. I was wondering if it would help to take classes in real estate appraising or if would be just throwing money away. Any help or direction would be greatly appreciated. I am also located in a rural area where it is not always easy to find people with the investors mentality to help.

Thanks BiggerPockets for this wonderful site.  It is truly a blessing to have a place to go and I wouldn't be as far along as I am currently if it wasn't for this site.