Depends on a lot of factors....sq. footage, does it involve the kitchen, bathrooms, etc. exterior changes, etc. $1000-3000+  That includes communication time, going out to the site to measure, etc.

Would I want to do this by square footage or occupant?

It was sort of hard to comp the property and get a dollar amount on square footage for my ARV.

., are reasonable based on the size (square footage) of the facility?

Is the property next door the same square footage and number of units?

Hey @Marquez Cadet, We used to work with price per square footage but we shifted to estimating based on 4 tiers of size and then the 3 tiers of rehab that you mentioned.

It's 3 bed room and 1 bath house of 900 sq foot, single floor, not a huge square footage. 

The banks won't underwrite the income or the square footage.  

My goal is to convert it to an 1100 sqft second house (which it looks like anyway until you realize 70% of the square footage is garage space).It will have it's own private driveway, car port, and a fenced yard to separate it from our part of the property.Our goal is to create a mid term rental for traveling nurses. 

Now, ours is completely renovated with more square footage, on a larger lot, and closer to light-rail.