Let’s say I’m looking at a few properties and want to make offers on them. If I can get 60%ltv for a rental, do I have to get each one appraised to see what my maximum purchas price would be? Seems like that could get rather expensive.
You’re right, getting an appraisal on a property to figure out what your purchase price would be a waste of money. You want to find a good way to get comps.
Either do the research yourself and build up knowledge of a particular area, work with a realtor or sign-up for a service such as www.realquest.com