But, there are ways to think in less mathematical and more "liberal arts" terms which outline the same thought pattern as the IRR.

Upper level built 1968, basement built 1992. 3 bed/2 bath.16 acre/1256 sqft Great view over BremertonNew laminate flooring in kitchen and entry waysNew tile flooring in upper level bathroomsPropane fireplace on both floorsBackyard deck on upper level Access to outside from basementAttached shedThe driveway is shared with another home so you are only able to fit 2 cars at most, but one will block the other.

I'm sure various other questions will arise.From the perspective of buying, there would be a survey for each parcel in addition to tile work (ie search, etc).

Both units recently renovated with new carpet, paint, countertops, tile.

I don't charge for estimates, but I cap all finishes per UOM, it doesn't matter really what type of tile they color as long as it is < $5/sf and if it is more than that, they pay the difference.

Tile can be nice, as one cracked or broken tile is easy to replace while engineered wood/laminate can be a pain to get one "plank" out for replacement.

This tells you from the outside that there is opportunity to add value in updating the property, but also, the inside may match the outside (original cabinets, pink tile in bathroom etc.)Aside from deferred maintenance, look for properties that are on busy streets, next to a gas station, or has any challenges to them.

It is nice quality trafficmaster that I have used in higher end houses.My question is it okay to use in a bathroom instead of tile?

@Dean HulsingThe rent patterns and characteristics for a residential property (1-4 unit) do not readily, or always, transfer to a multi-unit building, even a small (<30 units) one.When I posted above about questioning whether investing 50K into a 16-unit building in that area is warranted, I'm not certain my message was clearly communicated (based upon your response).You think the improvements would bring gross rents to 110K fulfilling the 2% rule.  

The labor I use to do the ceramic tile, vinyl plank flooring, painting, siding repair, floor refinish and other trades that do not require a license or permit cost me about $2,500 on average week and we are normally out of a house in 10 days.