Don't know if this has been converted (probably not) but yes we suggested using similar 1 unit SFR comps with a multiplier of some sort.  

Anyhow, for starters by way of comps, find out what the Cap rate is in a 2 mile radius for mixed use commercial of similar size.Find out the current NOI and if the subject property needs an upgrade, multiplying that figure (NOI) by 9 should place you in the neighborhood of where you want to begin considering where your offer should be.Of course you must do due diligence but you could start with this.

I know of somebody who bought 5 different "home study courses" from visiting speakers at the local REIA (average price ~ $1495, multiply by 5 to see the money spent); the only house he ever purchased as an investment was from a wholesaler (so he really didn't end up needing any of those fancy courses IMO).

Type in the value of the house multiply that number by .07Example: $123,000 (ARV) X .7 (70% in decimal form) = $86,100Then subtract repair cost and subtract your wholesale fee. 

Some simply use a gross rent multiplier, which would have nothing to do with comps.

Thanks for your thoughts @Paul Jamgotch .The way I have to look at it is that I bring 3 pieces to the table:The ability to put an investment partnership together and make them moneyThe ability to handle the real estate transaction on the buy and sell, saving 6% of net at a minimumA contractor with skin in the game, who also owns a cabinet shop and handles many of the sub jobs personally.These investors see what a tremendous opportunity they have to multiply their return compared to their current vehicle.

I look at the GRM (gross rent multiplier = purchase price / current annual rent).  

I guess as a worst case scenario I can use the tax percentage from the county records and multiply that against the purchase price...but I'm being told that is not how it works in Texas.  

The main reason I ask is I feel a lot of the property I am looking at is overpriced but the majority of the property I'm looking at is on the MLS and as of right now I'm working with an agent looking (trying to multiply my time I guess).

I would pay myself the mortgage amount to save up for a investment cash, and after you have a few of those. your cashflow will multiply quickly, and allow for growing your business at a conservative rate.