Hi, all:Sorry for resuscitating an ancient thread.

William O'Neil's books (I have a few of them) are good at explaining the methodology.

The correct thing to do is to utilize MLS based comps regardless of what other complimentary tool or methodology you may using.

Tom Krol keeps everybody in mind, and dares to reach out in a positive way, even when he knows people are not working with his system the way he draws it up which is taking action after each step.Tom teaches his system in a step by step easy to understand take action methodology.

In other words, the time to research this is now, just as the time to read the airplane pilot's owner's manual is long before you wish to kand the airplane.What most investors would do is to buy subject-to any existing mortgage of record, bringing it current in escrow, and complete their renovation and prepare for rent or resale prior to existing lender/loan servicer becoming alerted to any change of ownership.There are plenty of details, techniques, methodology and best practices that can be learn and employed to make this a repeatable strategy.

I'm not going to pay him thousands to tell me about his methodology.

Investors being open about their deals, methodologies, and tactics, without all the scammy hype!

Can anyone give me some feedback regarding my methodology?

Yes, as pointed out above, some of your assumptions are likely not entirely correct on the true costs, but your methodology of analysis looks pretty solid. 

It was built in 1994 so it is is not ancient and I fairly close to the down town area and the university albeit I have read about college unit horror stories.