Multiply that by 10 when the person thinking about buying this property is a high school kid from out of town.

But the years have passed, the complaints have come steadily, the absolutely heartbreaking stories have multiplied,  the predictions you made years ago have all come true.Jim, I think your documentary is going to end up as a must-watch specialist training video on turnkey real estate investing, something everyone interested in putting money into these kinds of assets is going to be pointed toward as a cautionary warning.

Use time to multiply your knowledge.

I do 2 year agreements quite often, but on the terms I need.Take your present rent and multiply it by 1.04 to 1.06 and you have your 2 year amount.  

That implies monthly income for any single one of at least 3x that, or basically $2800 (originally divided the monthly rent by three since that is the roommate quantity, and then multiply result by 3 for minimum qualifying income per month).

@Jim K.I would take the 23 and subtract 7 and then multiply by 4 to get the approximate square footage of my yards seasonal rain fall in the post monsoon quadrant...But on a more serious note I would just take out my phone and use the calculator.

Much appreciated.I'm beginning to think my sister who is not so savvy keeps mentioning their current mortgage of 2k and saying multiply by 3 for income verification.

Take all those items and multiply $/mo for that item and multiply by the approx age of the item ... add them all up and that is the minimum size of your CapEx reserve fund ... it is also a good idea to add several months carrying costs to cover vacancies as you have described above.

Once you have that number, just multiply the number of hours you're working by that hourly rate, and that is the expense you should be applying to your P&L.  

Figure out the ARV, multiply by 70%, then subtract the cost of repairs to get your maximum purchase price.