This way, I only have to deal with 1 person,and I would run a credit/eviction check against 1 person.The other option is to have all 3 persons sign the lease, but it seems like I would need to multiply all the work 3 times (tenant screening, trying to collect 1/3 rent from 3 persons).Are there other pros or cons to either approach?

Take your gross income from the property and multiply it by the above numbers.

Chime in.Many I know use multiplier numbers... some people use spreadsheets or programs... what say you?

Rents total $2400 per month, and you'd want that to be 2% of the "all in cost" of the property, so multiply $2400 by 50 and you get $120K; from that you subtract repairs needed to get at the maximum amount to offer.

Hard work can make you successful; luck is just the multiplier.

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the latest info i was told was that if its a good house multiply the square footage by 10 dollarsif its bad multiply by 20 dollars per square footand 25 if its uglyto get the reproduction cost. i personally think the guy was trying to screw my math up to keep me under him, he is supposed to be my mentor but when i ask him things like this he acts a Lil funny that's why I'm fishing and looking to learn enough to break away.what do u guys think

The space inside the interior walls is also included in the square footage.Think about it: the tennts will be using the wiring and plumbing that is inside the walls, so the walls are also part of their rental package.For houses, it is exterior measurements multiplied to get the square footage of the house.

The gross rent roll after repairs lease up will be approx. 1.5million/yr and the after repair value of this property will be 12-14million based upon comps or 12-15million based upon rent roll multiplier x8-10.

Both the rule of thumb cited here, "pay for itself in three years" and the "2% rule - monthly rents must be at least 2% of the selling price" are variations on GRM or Gross Rent Multiplier.