Are there any methods you want to stick with?

Used houses in the area sell anywhere from $75-125 a square foot.These are long term rentals that I do not plan to sell.I am reading the Rental Property Investing book and implementing the method that focuses on cash flow and that strategy states you need to have $300 cash flow per month, per property.

I talked to my lender contact and, as Kerry mentioned above, it's pretty uncommon that a traditional lender would offer a HELOC product on an investment property (non-primary home). 

These methods include: Detailed Engineering Cost ApproachDetailed Engineering Cost Estimate ApproachSurvey or Letter ApproachResidual Estimation ApproachSampling or Modeling ApproachExperience or “Rule of Thumb” ApproachIt’s important to understand the differences between the approaches including which one best fits your property and the reliability of each approach.DETAILED ENGINEERING COST APPROACHThis approach compiles the costs from construction and accounting reports to build a report.

We're also starting to scour other forums for possible investments outside the traditional MLS sites, and other areas like upstate NY. 

Purchase Terms: Clearly outline the terms for your brother to purchase the property from you, including the timeline and price.To minimize the financial burden on your HELOC, refinance the property into a traditional mortgage as soon as possible.                                                                                           

There are also people who swear by one method or another.   

Hey everyone, what tools/method do you use for estimating the cost of maintenance and repairs of a multi-family home (2-4 units) ?

These properties appeal to students and low-income renters, especially if traditional housing is limited.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.