When I refer to Wholesales comps, I mean distressed properties, such as REOs and Short Sales (sold, pending, and actv), in order to access what my inventory levels are in a particular market.

If that changes in the future and we a sustained increase and increasing trend in interest rates, we might start to see lenders call these notes due to lend at higher rates.Still pretty short, I think. ;-)

So the property owner must make sure they are aware of & are complying with all regulations related to their vacation rental property.It sounds like your neighbor did not conduct adequate research before offering their property for rent on the short-term market or else there were other factors involved which allowed the City to shut down the practice in your neighborhood.

It's so bad we've had to remove short sales from our buyer searches I've also noticed that Redfin will not show buyers short sales as well.

(except one short sale at 60k) I want to be conservative at $210k.

The two reports should not be that far off depending on how much time passes and the change in suitable comps.Depending on the time and lender, you will have to supply repairs to that appraiser in order to realize any needed increase in value in short time frames as an underwriting guide to the appriasal.

I had no interest in a short term lease.

We soon started bumping into sellers who where in a short sale situation.

This was my first of hopefully many real estate acquisitions.Keeping the details short - the apartment I live in has 3 bedrooms, I occupy only one and rent out the other two.

Month to month rentals or short term leases are an advantage to them.You have to know what kind of buyer your prospect is and market specifically to him.Good Luck.Bill