Hi I'm Jacob and right now I'm just starting out on my investing journey but I am confused on one part.

The reality is, most people don't end up needing anything more efficient because they eventually outsource to a 3rd party property manager.

So if your $3M property was producing a hopefully-too-conservative 4-5% return after expenses and debt service you would have the same cash flow with an enormous amount of paydown to boot.

@Matt SmallKeep in mind quit claim releases your rights to the property, but if the mortgage is in both names, late payments will still affect both parties’ credit score and standing.

Taking the average of 5 comps is one way to have a decent ARV (not too aggressive and not too conservative), however, your specific market and your level of rehab will dictate if you get the top price or the "average/median" price of the comps.

Account Closed, I wish more people would read the post before responding based on the headline only...It appears that either party can cancel based on this new turn of events.

@John Thedford I am usually a VERY conservative person when it comes to numbers so this market is definitely crazy to me.

Is this a third party inspection?

Ironic, isn't it, that one party can get away with it while another cannot?

That will either be a real cost by a 3rd party or an opportunity cost for your time.