(What I do is find out the square footage and multiply the square footage by $20 dollars for a complete over haul) 3.

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Then, the appraiser will determine a Gross Rent Multiplier (likely using sold 4-plex prices divided by market rent or their actual rent).

Multiply that by .65 (subtracting 35% expenses) to get NOI = $10,920.

Don't start buying the cheapest thing you can find, you'll end up spending WAY more- especially in a MFH, you'll be multiplying your losses. 

Throughout this year they have been late on multiply occasions and I had to serve them many times to pay or quit.

.), I've been using the following two methods to quickly triage whether the numbers might work: (1) Use an Effective Rent Multiplier and then compare it to the price to see if it's in the ballpark.

Rental rates, gross rent multipliers, cap rates, demographics, etc)?

Even if you only had 15% equity, you can still get it refinanced and have a much smaller MI multiplier than if you had a higher LTV.

I keep it simple:What is the rent multiplier – price compared to rent as a percent.