Make sure you have your criteria documented (length of employment, past tenant references, income to rent multiplier, credit history/score, etc) - and let that rule in and out candidates.Thanks for raising an important topic for all investors.Section 8 DiscriminationIf your city or state prohibits this type of discrimination, you cannot reject all Section 8 applicants outright.

He is under the impression that you take the (property value/1000) and then multiply that by the millage rate for the county. 

  $520/ year profit center multiplied by .... how many units? 

I estimate age remaining, take current market rate for such and use a time multiplier to account for inflation.

At year 15, which will come whether you like it or not (so you might as well make it awesome), an avalanche of wealth via income producing assets will start, you likely be a self made millionaire and there's a good chance you'll never have to work again.

SqFt BelowWhen doings comps from the MLS that my agent gives me, I need to take the Price per SqFt and multiplying it by one of the rows above.

Most of my evaluations have been calculated by a combination of comps and rent multiplier. 

If we did cost per sf and multiplied it with my SF we would arrive at a price of $198K ($103.85 per sf that this property sold for, times 1915 my SF).

This may not be what you want to hear but if your tenant is lead poisoned and you were aware (which you are by making this post) you are on the hook for medical, potential future earnings and multiply that by 3.

Which is actually a bad idea as unfixed repairs multiply over time (especially water damage).