In terms of running numbers, I find that using Rentometer's LTR estimate for your location plus 30% is a good number for right now.

Any chance of a rate modification vs a full on refinance which I'm sure will cost 10-20k?

Do you know how to estimate rehab costs? 

Real estate investors should look for off-market properties for a few reasons:Off-market prices can be negotiated better due to less competition.Lower competition, in general, equals a better chance of your offer winning.You can negotiate other, more favorable terms that aren’t always available on-market.Why Do Sellers Go Off-Market?

Using my knowledge, I estimated the remodel cost, Found the estimated Resale value using comps.

What would you estimate the additional labor hours to be annually for reading, processing, etc?  

I remeber my buddy’s first partnership happened by sheer chance at a coffee shop-he ran into another investor and one conversation led to a multi-property deal.

So, I took a chance and was completely upfront with her: I was new to this and would be assigning the deal to a cash buyer.Despite my inexperience, we built trust.

And they can give you an estimate.

What we're struggling to understand is how to underwrite/estimate the paper losses that a MF would produce and IF this strategy is worth it from an income/tax savings perspective.