Also of note:  the door to the lobby from the mudroom (first image in this post) is a nice 36" steel door with a deadbolt; the door to the lobby from the present kitchen is an ancient 30" solid wood 4-light paned door that will need to be replaced (pictured in OP).I apologize if I keep throwing up all over your ideas, Z.   

Using this methodology, you simply take the Net Operating Income (NOI) and divide it by the average capitalization rates "cap rates" that most properties in your market are trading for.HOWEVER, the cap rate approach typically goes out the window for deals under 4 units, which are still considered as "residential" by most lenders.Sounds like you have a "hybrid" deal. 

How long did anyone think blasting out yellow letters through snail mail is going to be the optimal lead generation methodology?  

More importantly, what is your methodology for analyzing a property?

well when you travel through Europe  Italy and Greece in particular you will see laundry hanging out on the line in front of these great ancient homes. up here in Orygun well we don't do that much unless you want to grow moss on your clothes..plus in many areas of the US your just inviting the petty thieves to steal your skinny jeans

The HVAC is ancient, but works well right now. 

Granted, this is all an imperfect methodology.

For example, this is an ancient slate roof that needs repairs after last winter, but I want to replace it- so I ask for the money for the repairs for damage during winter.And with improvements, I like the idea of phasing things in as the current stuff wears out so as to not shock the rentability of the unit in a mediocre rental market. 

Hello all,I'm fairly new to this industry but have been fascinated with real estate investing methodologies for over a decade.

This methodology stems directly from Bill’s teachings, and that’s how he showed me how to be easy on the people, but hard on the problem.