Just back of the napkin here, I would think you will have a 3 bed unit and a 2 bed unit.

Which can be hand written on a napkin as long as you both sign it. 2.

@Rita Naga...there's too many factors you're not mentioning and I agree with both @Marty Johnston and @Chris CambridgeJust back of the napkin off the numbers though running backwards - if your NOI is ~$86,000 and rents are $595 now, then just guestimating at a 45% expense level, this is ~20-22 units??

- Does it require extension of public utilities for water & sanitary service to the lots?

My back of the napkin math for BRRRRs is Purchase Price = ARV * 0.7 - Rehab Costs which comes out to around ~$238k based on your numbers.

@Tyler Haanen Looking at deals over and over will get you to the point where you can confidently throw together a rehab budget on a napkin.

@Michael Ward fingers crossed - hoping my napkin math is accurate!

Any formula would help, lookin for some napkin math here.Thanks,Chris Forza

I can provide a back of the napkin analysis.

- Napkin math 'worst case scenario': $25K down, $2100/mo expenses, $20k gross - leaves me with an annual cost of $6k/year -- which IMO would be the cost of a year's worth of travel, and then starting year 2 I'd cash flow positively?