Course #AP515:

Advanced Small Residential Income Property Appraisal:         (21 Hours Qualifying Education - Tested)

Text: Appraising Small Income Properties, Trans-American Institute of Professional Studies

This course focuses on an in-depth study of the valuation of two to four family residential properties emphasizing the application of the Income Approach to Value. The discussion will explore the application of fundamental appraisal principles to income property appraisal and the techniques utilized in developing the appraisal. The course includes an introduction to the six functions of a dollar and direct capitalization. This is followed by a detailed study of the most common reporting vehicle, the Small Residential Income Property Appraisal Report (SRIPAR-FNMA Form 1025). The Operating Income Statement (FNMA Form 216) and the Single Family Comparable Rent Schedule (FNMA Form 1007) will also be covered. Case Studies are part of the course material.

Course Objective: To provide a foundation in the proper application of the approaches to value and reporting techniques as applied to small residential income properties.

Prerequisites: AP101, AP102 and AP103 or equivalent

Upcoming Classes

Approved in Arizona for 21 hours of Qualifying and Continuing Education (ABA#0306-512-10)

This course meets the new qualifying education criteria for the State of Iowa

Nebraska approval #Q2803

South Dakota approval #SD 405

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Last modified:  08/11/10