Using Rentometer or BP rent estimator to get an idea of the LTR rent makes a lot of sense.

The property alone is worth a million but is generating an estimated $250k/ yr with the ability to add 3 units on site and acquire an additional 13 acres.

As to the $120k estimate, I am probably a little hasty and loose with that too. 

What is your estimated rental revenue for LTR Vs.

I put property taxes 6k/year on each(Even though that's way higher then what it actually is, but the county tax estimate says its around that much for each) and for insurance, I just put 1,100/year on each.If there's more info needed let me know.

My partner called the owner who had give the original estimate, said no way are we paying until the job is done. 

I just trying to estimate how long it will take the the heaving to settle once I repair the leaks so I can start rehabing the house.   

As an experiment I invested $30k each in the 10 REITs which had (according to average estimate of NAV) the largest discounts from net asset value as per market price).

with our estimates for both income & expenses on this property.  

Some pros:- You'll have plenty of cookie-cutter comps so you should be able to get a very accurate estimate of ARV and/or sale price in the case of a flip.- Your maintenance and repairs will be mostly limited to the interior of the property as the condo management will maintain the building- You won't have to worry about tenants maintaining the grounds around the buildingCons:- Condo fees may change drastically over time and it's largely not in your control- Condo bylaws can be tough to work around.