I'm based in Charleston and am frequently in Columbia.

I think it is fair to say that there is somewhat of a tradeoff between markets that provide positive cash flow on day one and relatively high appreciation-based markets.

Make the place nicer or lower the price to get bargain shoppers. 

We use Pricelabs dynamic pricing and our base prices are set a year in advance for each month. 

I'm based out of Fairbanks, Alaska.

ASSET BASED LENDINGNote: Hard money is defined as average loan size under $2M, average loan hold duration under 2 years, and not a bank. 

No disclosure on the sewage problems or any of the interior rehab required as all the BPO listed was a mere $3500 repair estimate for exterior cosmetic issues.An out of state buyer would have no idea that his $90k "bargain" needing minor repairs was actually a $10k property requiring major repairs that exceed the value of the property. 

Does anyone have a "program" or formula to use to establish a reasonable list price based on current income and expenses.

Quote from @Brandon Croucier: Financing a commercial MF that runs as an STR is possible.Appraising a property based on the income is not, whos to say a buyer would STR the property. 

Lenders usually determine whether properties are lendable based on the debt service coverage ratio.