Help on deal analysis

[Adam Spencer]

Hey, guys hope everyone is having a good day. I need some help on an off-market deal I got from a bandit sign.

The home is question is about 1mi from EMU in Ypsilanti, MI

The home is a 6bd 2.5ba at about 2000sqft.

Gross rents are $500 per room so $3000.

Overall the home is in good condition and just needs a few grand of work.

The guy bought the home and did a lot of work in '12. It was rehabbed then and the basement was also redone and he added 2 legal bedrooms down there.

So the issues I'm having is how the heck do I comp this type of property? I am looking to wholesale it so would a potential landlord want to rent it out per room? The other issues I can see is the fact that he has just a verbal month to month lease. No background checks or anything.

With a bit of work getting the people leased up and such this thing could cashflow really well! Just need some input.

Thanks, BP peeps