Then you will surely get an avalanche of ideas & proposed methods on how to make a specific deal work.Best of luck

Multiply that x 40 doors and you are at $4000/mo.  

Steps, I know are: Start at correct ARV with a CMA, then multiply by 0.70% to hedge against the inevitable,  then continue to deduct ALL holding expenses for anticipated length of time for rehab.

Then I was told you multiply the total rent from the units by 12 and then multiply that number by 7.  

I try to market the end buyer price as a certain percentage CROI for flips or rent multiplier for buy/hold types.

More important, what is the average GRM (Gross Rent Multiplier) for the area?

The 2% rule is a form of Gross Rent Multiplier.

Unless I am missing something like consistent avalanches in your area you won't spend a grand a month in expenses.

If you hire a giant multi-national consulting company, multiply those rates by three.I do not know the age, but in that area it is probably old enough to need asbestos and lead surveys, so that would be another $5,000 to $7,000 (depending if was built before or after 1960).

Determine the ARV, multiply by 70%, the subtract out all of the rehab costs.