My family owns a 6 acre property in a rather nice area, it has a 4 bed 2 bath 2300 sq ft house that was built in 1884.

A 1 bed/ 1 bath is currently rented for $900, neighboring properties rent for $1200-$1/00 depending the condition of the unit.

I want to start with a 3 bed n 1.5+ bathroom SFH in a C+/B state in a B area  (not in a war zone)

In short, you look at recent sales, the # beds, baths, size of the property, condition, and key features (lot size, attached garage vs no garage, etc.) and adjust the price of the comps up/down to tailor to the subject property.- BPO - Broker's price opinion.

All three units are 4-bed, 4-bath three-storey houses with small own yards, garages and a common area for BBQ.

Spreadsheet template:TOP HALF OF PAGE:Addresses of comps - price - date - bed/bath - special feature(s) of house - conditionProperties listed here with dataMedian / Mean / Lowest / Highest chartCommentaryBOTTOM HALF OF PAGE:Left side, improvements since purchase bullet points.Right side, details about how/why you got the property for less than fair market value, again bullet points. 

This will help me determine what I will offer on the property.Some details, if they help:I will use the FHA loan for this.(3) 1-bed 1-bath units rented at 425 a month, 1 is vacant (for me).

Getting started, I created a spreadsheet of all properties sold and all rentals listed, along with the price, #beds, #baths, sq.ft., and general condition.

First off as a local investor with extensive knowledge of the area I have no idea if you’re rent projections are right bc you didn’t say number of bed and baths.

One property is a 2 bed 2 bath house listed at $33,000 with most likely $7,000-$10,000 in rehab with a rental rate of around $500.