I take that final monthly number and I multiply it by 12 and then I divided by 52 so that I can have a weekly amount of what I need to hit.  Right now my families weekly core budget amount is $525.

In my experience as a fix and flip broker and a rehabber, you should take the square footage and multiply by at least $60.00 per square foot in order to estimate the cost of rehab.

Just like sellers and listing agents might assume an FHA buyer has a rock bottom FICO, they might also assume they are barely scraping together 3.5% down, since many do in fact multiply target sales price by 3.5% and save up exactly that much money, unaware of closing costs, that things break in homes after you buy them, etc.

@Justin Green  its funny in dirt deals... the sellers usually look at what lots are selling for then figure out they have X many and multiply that by full retail to come to their price.Just put Palmblad Meadows LLC in the mls search.. its in Gresham price 350 to 370k.27 homes 4 pre sold and 12 going vertical right now.. first closings mid dec  ( ya) 24 months from when we put it under contract.  

A lot of the Facebook groups that I'm in, have Buyers mainly searching for the cheap, boarded up (or burned up) properties to multiply their rental portfolio's. 

Find out what other similar properties in the immediate area are selling for and estimate an ARV (after repaired value)Multiply that times 70% Subtract guesstimated repair costs = most that you should offer (max that you ought to be willing to pay)Scrub (eliminate) the ones that are corporate or bank owned (you are not going to out- negotiate them).Just start talking to the owner(s), ask lots of questions, find a common ground and be patient.

Multifamily is valued on a gross rent multiplier. 

I'm looking at a Duplex in Texas, obviously since i'll be using an FHA loan, i'll be living in one unit for at least a year.Property type: DuplexPotential Offer: 180kPITI: $1455/monthCurrent Rents: 875 per unit (1750/month)Water: Tenants pay $70/month for waterElectricity: metered for each unitTaxes: $4100Repairs: Advertised as being is good condition but i won't know repairs until I have the property inspectedProperty management: 10% or 175/month (i'm guessing the management is going to be around 10%, i have to do more research on this)GRM (gross rent multiplier): I'm told by my realtor that the current GRM for the area is 9.28 (based on annual income, not monthly income). 

Little snowballs now will make avalanches later.

Take the value of the property (lets use the 1 mil property again), subtract the land cost ( we will say 250k), then divide by 27.5 (which is the number of years you can depreciate the asset over, then multiply by the income tax bracket you are in (let's say 30%).