Instead of annualizing the GRM multiplying the rent x 12 & dividing the GRM by 12 to get the value do it monthly because it's easier to understand but yields the same income value. 

The rental income specified on the lease, multiplied by 75%, is to be greater than the PITI on your departing residence.

Multiply that x number of months you'd have this guy stay.. 

The overall average price per sqft came out to be $138.25 and multiplied to the homes sqft I came to a price of $198,000.

Then he said that it is industry standard to multiply this amount by 4 to determine the lot price.

I'm open to all scenarios, whichever ones multiply my money the fastest and to the greatest degree.I'd like to start investing in the Boise, Idaho area.

@Cody Steck - see the link below:http://www.mobilehomeuniversity.com/articles/evalu...I personally see the 70 multiplier as function of an expense ratio and a cap rate derived in a single number.

Then the avalanche of tirekickers calling.

@Dan Zaccardi Take the population of a town, multiply that number by itself, then add to the result the population of the town and then divide the result by the population.

The buyer will need to figure the total amount of depreciation the subject property has incurred over the hold period and multiply the value by a 25% tax rate.Hope this helps!