The house is worth 65 - 70.

@Edgar Perez I'm not sure that an estoppel after the fact is worth anything.

Basically, it's as if she and you are both starting at the beginning of your RE journeys, to find out whether she/you would be better off investing for appreciation (eg. buying property that should be ALREADY worth more than you pay for it, AND it's due to keep going up in value too, but, won't generate much net cash flow), or, buying for cash flow (in areas where appreciation has not happened historically, but are still golden egg locations for double digit net rent returns). 

Do we accept putting additional cash into our first deal or do we keep our eyes open for another deal.Original Offer:Price: 153k ($31k into the deal)Anticipated rent: $2,000k/monthOperating expenses: $9.4k / year (includes management, cap ex, vacancy, taxes, insurance, etc.)Cashflow: $4.2k / yearCash on Cash return: 13.68%The appraisal came in at 146k and they raised some very valid points on why the property was not worth 153.  

Well today I got a letter from the IRS saying they didn't show record of that and added the $4820 to my taxable income.

Besides, if it was worth the listing price you wouldn't be posting this as it would already be under contract 🤣

You can then send a letter to whatever that address is.Couple things to look out for: (1) type their name in the property appraiser to check if they own multiple properties - if they own 5+ properties it's not worth your time mailing, (2) many vacant or abandoned houses are REOs - make sure you aren't sending mail to banks, corporations, etc.Lastly, if I was doing driving for dollars, I would not mail a yellow letter.

Worth, and I can tell you owners are getting an enormous amount of the upside right now, but there are still potential deals to be had.  

Do you think it's worth looking into Bakersfield at all?

I added it to my profile.