What do you think you could rent this for?

They told you the rent amounts, they should tell you whether they have leases or are month to month. 3.

Seriously, it's important.And as mentioned above, the amount of rent you receive on multi-family properties is based on 12 month rental comps.  

Rent goats to clear woods and create romantic lit walking pathRefinish floorsAdd modern master bathroomNew deck and firepit hangout area with hot tub and outside barand....STYLE!

They're currently renting in Denver under only the guy's name but since the girlfriend is pregnant, they need to move to a bigger place.

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

The best way to think about it is you're in the business of renting a property-that business isn't operational until it's ready and available for rent (aka in service). 

Fully rented property since listed for rent in May 2020.

If a Room for Rent is worth $1000/month, then reverse amortization at current interest rates between 6.5-8.5% for 30 year mortgage would set the price between $130,000 to $158,000.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.