Metropolitan Detroit was the hardest hit by the avalanche of foreclosures.

,I've done a number of owner financed deals in the past - they can be a pretty nice way to multiply your profits over the long term.

So, to find the maximum acquisition cost (purchase price + rehab cost), divide the gross monthly rent by .02 or multiply the gross monthly rent by 50.Good Luck,Mike

Originally posted by Scott Bartlet:While I'd still like to figure out a more accurate way of measuring a roof without actually climbing on top of the property to measure it.What I've found to be somewhat reasonably moderately sorta kinda almost accurate (in other words, it's better than nothing) is to multiply the length of the house by the width of the house and then multiple by 2.

In some areas, I know the assessed value reflects the FMV when I use a multiplier to adjust the assessed value.

Then multiply that by 5 (5 hits each)

Chuck,The Gross Rent Multiplier is going to vary from one part of town to the other.Properties that are in less desirable neighborhoods -- or older properties that require more maintenance -- are going to sell for smaller multipliers.Generally speaking, real estate "nirvana" (at least based on what the majority of people on this forum seem to think) is when you find a decent property that will rent for 2% of your total cost (cost plus rehab, if any).

I think the inherent flaw in your calculation is adding your "profit" after already multiplying by .70 Your profit is in already the 30% spread.

Personally, I would take 3 highly scrutinzed comps and determine a sales price per square foot; then, multiply this number by the subjects’ living area under air to come up with an estimated ARV.

What exact do you have on your hands other than your money not being very well leveraged and the maintenance of a big headache with little to no cash flow.R2d2,You do understand that you multiply that $200 per month by the number of rentals you have.