A lender friend of mine told me they multiply the purchase price (or ARV if you refinance post-reno) by .0033 for the yearly premium for homeowner's insurance.

Hi Alan,I convert  two  SFR into duplexes in Barrie. its a great way to improve  cash flow and add value. just like  the rest of the GTA, prices went up dramatically with multiply offer craziness Toronto style, until around March /April 2017. 

Calculate the NOI by multiplying the number of spaces by the lot rent, and then multiply by 12 months, subtract the expenses (can range from 30-50%, that % depending on the variables above). 

I make three times what the rent is.Me.....Thats not what I asked you....I asked you what is your gross monthly income before taxes.Her .....About $1,400Me.....Ma’am the rent is $595/mo and if you multiply that by three that means we want your gross monthly income before taxes to be about $1800 not $1400.Her.....Look, I’m at work right now why are you asking me all these questions like this...I don’t be trying to discuss this kind of stuff while I’m at work...dang!

Multiply by 5 years and its a lot of $.

The income multiplier is a good compensating factor and I would give this applicant consideration if employer and previous landlord check out.

AAMOF based on legislation in other jurisdictions the legality of the sort of late fee clauses most have in their leases is highly questionable.In the UK for example  http://www.propertylawuk.net/residentialucta.html the following is cited as an unfair termimpose potentially excessive penalties on tenants for failure to meet the terms of the contract e.g. by charging excessive rates of interest on late payments of rentI like the chances of the tenant that argues that  the late fee should be construed as interest and that the 5% a month many landlords have in their leases is unlawfully usurious (multiply that by 4 if they were only a week late). 

If I had your $360,000 and multiplied it into 3.6 properties of the same value I would have $14,400 positive cash flow per month.That is how leverage works when done properly.

Multiply that or divide it however you choose to calculate how much you have lost in revenue.Those are dollars you would have lost to save what ???????????

I believe there are quite a few examples of organizations and business people doing this across the country, but I would love for it to be multiplied by a thousand.