You just divide the monthly rent by the purchase price.

Quote from @Matt Meier: Good morning,I’ve come across a renovation property available at a significant discount and would like to secure it without going the traditional 6-month financing route.

Your basis in the entire property will be divided into each of the 6 units. 

For property taxes I took the sale price of the property times 1.5%, then divided that by 12 months.

Got a call from the tenants mother on Tuesday morning - she said her son (my tenant) was shot nine times this past Saturday & is in intensive care, surgeries, etc. 

Divide that by 12 months. 

This morning, my guy (while I am on the beach) will walk a property and tell me the reno.

Good morning......imma boiler too.....I'd be open to connecting for sure

@Collin Hays My favorite that came in at 6am one morning when the nights low temperature was 58 degrees and the high temperature was to be around 75 was the following.

Good Morning JC!