We ended up not doing that deal, and we're in the self storage world now, but looking back I'd actually evaluate it both ways (as a package and individually), then make your offer based on what makes you the most for your exit strategy - flips, BRRRRR, etc
You’re buying it as a package so you want the income and expenses to work out and generate a good profit as a whole. In this case combine all income, all expenses, all crowd and see if it works.
However, you likely won't sell or operate it as a package. You'll operate them individually or sell different assets at different times so they have to be able to stand on their own. You may not want to buy a 5 unit building, 2 houses, and a duplex if the income from the 5 unit is needed to cover the costs of some of the other properties. If one of your strategies is to BRRRR them, then maybe this isn't an issue because you'll increase the revenue. Either way, I'd still evaluate them individually so you know which ones are going to generate the most income, and which ones are going to have higher costs.
We ended up combining a few different spreadsheets and calculators over the years, and that’s been our base for a lot of properties. Establish your buying criteria (cash on cash, cashflow, cap rate, etc), then find or build a calculator that measures those in a way that works for you.
Hope that helps!
