I have been able to do that for all the calculations below EXCEPT the gross rent multiplier.

If these properties are similar and you have a market GRM, say 9 then you would multiply gross rents by 9.  

I also have a job that will continue to multiply in pay every year which will help. 

Instead, you need to see the overlooked opportunities that are all around you and act on the vast sums of untapped income and unclaimed success just waiting to be harnessed.You probably spend too little time studying the most successful, innovative and profitable ideas people in other industries use to grow and prosper.Yet, if you start focusing on other industry’s success practices, you’ll be amazed at how easily you can adapt these ideas to your own business situation.Suddenly, you’ll see significantly better ways to produce significantly better results from the same time, manpower, effort, activity, and capital.Vision isn't easy.As a result, most people let the opportunity of a lifetime slip through their fingers & live to regret it; but in this case I could make it easy for you to Not let this one slip away so that you can take advantage of this unique opportunity with zero risk.Instead, you need to see the overlooked opportunities that are all around you and act on the vast sums of untapped income and unclaimed success just waiting to be harnessed.In a recessionary economy like this, some 30 million people could be out of work -- they lost their jobs, got put on shortened work week.Millions will be (or are, right now) aggressively looking for business opportunities they can purchase or start.Though most of them don't have a lot of cash to invest, they still need income, they need work, they need productive activity that makes them money and keeps them feeling worthwhile.I believe there’s not one business owner or startup I’ve ever met in North America (and probably the world) who couldn’t, who shouldn’t broaden their perspective and think about how to grow yourself a small or large business empire.And that can mean nothing more than multiplying the size of your current business many times through external leveraged buyout acquisition activities.Or it can mean multiplying it through a roll up.Or it could mean buying complimentary-type product and service businesses.Most people in business - or wanting to start their own business - set their sights too low.They’re often content merely to have a so-so business that makes them a barely livable income.But why start a business that has a one in thirty chance of even making it five years –when you can acquire a solidly profitable existing business that’s a huge, proven moneymaker that has a high certainty of working - using none of your own capital?

I use craftman's though, not applicable in CA but I use my own multipliers.

As I see it, there are inherent problems with subtracting the value of the voucher and then using the multiplier. 

The monthly cash flow multiplied over time.3.

You likely would be ahead of the game to pay a bit more on your first property to be able to multiply the benefits of rental real estate by purchasing another...Just my 2 cents...A : )

Take the listed price and divide by the GSI -- this is the Gross Rent Multiplier. 

Has anyone every heard of analyzing a rental property by taking 26% (or 74% of the monthly rent) off the monthly rent and multiplying by 60 months to come up with an offer price?