You've essentially generated $40,000 with $30,000 which has multiplied your original investment by 1.3.

There’s a multiplying effect when you rehab a property.

Now multiply those hours by a reasonable rate. 

Many respected experts will typically advise using a multiplier somewhere around 0.45 and 0.50.

Why multiply by 0.7? 

One great metric to add to the mix is GRM (Gross Rent Multiplier).

The building has a Gross Multiplier of 18.   

Now, if we multiply this by 10..... we get the Manhattan to Brooklyn scenario in real terms.Here is the exact statement above multiplied by 10:I fully believe that couples who own a $10 Million apt in an expensive neighborhood would move to a $1.75 Million home that's only 30 minutes away.

My rule of thumb is to count the number of bedrooms in a house and multiply it by $200, that's how much I charge a week. 

Then you need to use the 2016 tax millage rates to multiply out the valuations.This will give you the tax amounts.