“A good rule of thumb that I use to start with is that I take the number of occupied spaces and multiply this by the average monthly space rent and multiply this by 70 (The "70" number is an arbitrary number based on my experience in evaluating deals).”

Otherwise they have to live with it.We had one guy that owed $2800 in back rent then abandoned the wife & daughter & moved in with the GF & told us "to go forth & multiply".

Talk to the guys at multiply - Melbourne.They will be able to help .I was thinking to invest in Melbourne too but I’m finding it over price so I’m thinking to invest in Brisbane.You can invert maybe $700k in Melbourne but won’t be in the blue ship suburb 👍

Do you think an appraiser would just use a 3/2 SFH as a comp or might they just use some sort of gross rent multiplier?

3) BRRR'ing single family home has a 1X multiplier - you have 1 unit and you profit from the increase in value of that one unit.With apartment buildings, when I do a value-add, the increased income is increased EXPONENTIALLY.

Using a cap rate or a gross income multiplier leads to valuations that are crazy outrageous and just cannot be accurate in a market where real estate trades around a 3-6 cap, and a 166 - 200X monthly GIM. 

Typically you'll just take the gross rent yield and cut it in half to account for all expenses including property mgmt (multiply gross yield by 60% if you'll manage it yourself).Now layer on the benefits of the 75% leverage (loan).

2% rule would have this at $182500 max; basically multiply total monthly rent by 50 (or divide by 2%).

For properties in general, the easiest way to estimate taxes is to multiply the assessed (or anticipted reassessed) value by the net mill rate, currently 2.997%. 

Let's say the GRM (gross rent multiplier) was 100. 100x50= $5000 adjustment in the sales comparison approach.