I'd pay about $890,000 for that portfolio to meet my numbers ($150/door and 15% Cash on Cash return)Here are the numbers as I see them (per house, then multiply by 27):My price:Final Offer Price 33000% Down Payment 30.00% (portfolio loan)Down Payment $9,900 Remainder of closing costs $1,500.00 (this might be high, but I'm not sure how much the closing costs on a portfolio loan are going to be)Total Due at Signing $11,400 Mortgage Rate 6.00%Length of Mortgage in years 30Monthly Mortgage payment $138.50 Taxes $45.83 (guessed at $550/year)Sewer and Water $- tenantTrash $- tenantHeat/Utilities $- tenantHOA $- tenantCap Ex and Ops $150.00 Insurance $45.83 (guessed at $550/year)Mgmt Fee $64.10 Vacancy $51.28 Total Expenses $495.54 Total Revenue $641.00 (used GRM against 1.43M to get ~208k/year in revenue)Cashflow/month $145.46Cash on Cash Return 15.31%

Also the cash on cash ROI is 13.82% and monthly cashflow is $587.25. also the gross rent multiplier is 1.67 and income expense ratio is 1.86%(2%rule) .

I spent a year running around when I started, looked at over 80 properties before purchasing, exploring local investing vs long distance investing.I find a quick way of distinguishing areas, analyzing profitability is the GRM (gross rent multiplier) the ARV/Annual Rent.

So far it seems to me 8+ unit apartments tend to have lower gross multiplier (selling price) to help out with the higher interest rates.

But at some point, once you build up enough of a portfolio, its just easier to average things out.If you only want to buy a handful though, it might make some sense:i.e. 1,000 to 1,500 sq ft home - Capex is 80/mo and repairs 50/mo1,500 to 2,000 sq ft home - Capex is 90/mo and repairs 60/mo.2,000+  Capex is 100/mo and repairs 70/moAnd then you'd have some sort of multiplier for age. i.e1900 to 1950 - Add 20% to those numbers (capex 95/mo, repairs 60/mo for 1000 to 1,500)1951 to 1980 - Add 10%1981 to 2000 - No multiplier2000+ Subtract 10%Again, you'd really have to want to get into some analytics.

We are looking for rental investments in the Cincinnati area and are hoping to apply the BRRRR strategy to make our properties multiply down the road. 

I prefer to use the average selling cost per square foot and multiply that by the square footage of the subject property to determine the FMV.Note:  Whenever possible, I try to get 5 comps for any property I'm working on.  

Appraisals are so subjective and are not always accurate, you have to look at the comps they pulled and whether they included a gross rents multiplier since this is an investment property.

Multiply the monthly net rent by 12 & divide by the as is value of the property minus expenses you would have if you sold. 

I've been able to find several areas where my properties have multiplied in value quickly, but I'm sure not every deal here is so great.